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Yes Bank Ltd share fell marginally in Tuesday’s trade. Yes Bank stock opened at Rs 16.50, and touched a day’s high of Rs 16.70, rising 2 per cent in the early session. Later, the stock fell 1.8 per cent to day’s low of Rs 16.10 as against the last close of Rs 16.40. The stock has fallen after 2 days of consecutive gain. Yes Bank stock has gained nearly 10 per cent in the last two trading sessions. Yes Bank stock trades higher than 5 and 100-day moving averages but lower than 20, 50 and 200-day moving averages.
The share has fallen 9.7 per cent in a month. Year-to-date, the stock is down 8.7 per cent. The market capitalization of the lender stood at Rs 40,714.22 crore. The stock has touched a 52-week high of Rs 87.95 and a 52-week low of Rs 5.55. Share of the private lender, with Rs 2 face value has fallen 56 per cent in one year. The lender’s shares have been falling since Emkay Research gave a ‘Sell’ rating to the bank and set a target price of Rs 11 for the share, given sub-par return ratios and unfavorable risk-reward with higher valuations.
“We believe that the transfer of NPAs to a separate ARC (somewhat similar to IDBI in 2003) probably means window dressing standalone bank B/sheet,but we need to see the extent of hair-cuts, structure of ARC and recovery record in the ARC, which is not inspiring in case of IDBI SASF,” Emkay Research said in its report.
Similarly, ICICI Securities said in a recent note that YES Bank’s December-quarter earnings have aggravated fears of its asset quality issues and gave a “hold” rating on the stock with a revised price target of Rs 16.
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