YES BANK Share Price Target 2024-2025: Unlocking Investment Opportunities
YES BANK Share Price Target 2024-2025: Yes Bank share prices gained about 13% early on Tuesday, as HDFC Bank group got a Reserve Bank approval to acquire stakes in it and other five lenders. At 12.05 pm Yes Bank’s share price is trading at 25.35 on NSE, up 11% from its previous close.
While filing regulatory disclosure, the HDFC Bank said that the Reserve Bank of India has granted permission for the HDFC Bank Group to acquire stakes of up to 9.5 percent in several banks including IndusInd Bank, Yes Bank, Axis Bank, ICICI Bank, Suryoday Small Finance Bank, and Bandhan Bank.
The approval will remain valid for one year and is specifically for investments by entities within the HDFC Group such as HDFC Asset Management Company (AMC), HDFC Ergo, and HDFC Life Insurance. It’s important to note that this approval will be revoked if the HDFC Bank Group fails to complete the stake acquisitions within the stipulated timeframe.
Yes Bank Share Price
The Yes Bank share price fell sharply from Rs 25 to Rs 22.80 in six trading sessions after the lender announced its third-quarter results on 27th January 2024.
The Bank’s third-quarter Net profit was reported at ₹231 crores, and the NII is up 2.3 percent at ₹2,016.8 crore. The Yes Bank share price declined around 9% as the net profit of ₹231.6 crore, fell short of market expectation set at ₹415.1 crore. Meanwhile, the gross non-performing assets (NPA) of the bank remained at 2 percent, showing no change from the previous year.
Yes Bank Share Price Target 2024, 2025
On 16th January 2024, the technical analysts’ team of Prabhudas Lilladher (PL) gave a buy call on Yes Bank. According to PL Analysts, the stock gained quite well in the last 3 months from the Rs 15.80 zone and has maintained an uptrend with a series of higher low formations on the daily chart has improved the bias.
According to the PL team, it is further anticipated to rise with a decisive breach above the 23 zones. The Yes Bank Share Price Target is now visible are 34 and 40 levels, only a decisive breach below the 22 level the stock to weaken and can anticipate further fall.
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