• Multibagger stocks for 2023: If Yes Bank reports strong Q3 FY23 numbers, its share price could rise up to ₹50 per share, say experts
Multibagger Stocks for 2023: After giving breakout at ₹18 and news of RBI approval for transfer of NPAs to JC Flowers ARC, Yes Bank stock has been in focus. In the last one month, the Yes Bank share price has gained over 15 per cent and has managed to maintain the level of ₹18 per share, leading to speculations that the stock may touch ₹50 level in the long term. Has got wind.
According to stock market watchers, a lot will depend on Yes Bank's Q3FY23 results. He said the lender is among the few banks that are still making provisions. In Q2FY23, the private lender had increased its provisioning in Q2FY23. As per Yes Bank's Q2FY23 results, provisions for Q2FY23 stood at ₹583 crore as against ₹377 crore in Q2FY22, up 54.40 per cent on YoY basis.
Experts said Yes Bank may have kept a three-year lock-in for large investors like Axis Bank, IDFC Bank, HDFC Bank, Kotak Mahindra Bank etc. who bought stake in the bank in March 2020.
Hence, in Q3 FY2023, Yes Bank is expected to cut its provisioning like any other banks. In such a situation, there can be a huge improvement in the margin of the bank and it can bring profits to Yes Bank. If this happens, in that case, experts believe that Yes Bank share price can increase to ₹48 to ₹50 in next 6-9 months.
Key triggers for Yes Bank shares
Speaking on the key fundamental triggers that could impact Yes Bank share price in 2023, Ravi Singhal, CEO, GCL Securities said, "A lot will depend on Yes Bank's Q3FY23 results. If the private lender continues to deliver attractive numbers like other banks." manages, then the valuation of Yes Bank shares is expected to be highly attractive."
Ravi Singhal of GCL Securities said that Yes Bank is still following the provisions post covid spread, and this provision is also expected to go down like any other bank, adding, "A for the period October to December 2022 Better quarterly result may increase yes bank share price valuation and in that case private bank holding shares of yes bank may not go for profit-booking as they are entrusted with the responsibility to bring yes bank among profit making bank Yes Bank's better quarterly results are expected to create a new supply zone of ₹40 to ₹45 for institutional and retail investors."
yes bank share price target 2023
Yes Bank share price is expected to go up to ₹50 per share level in next 6-9 months, said Sumeet Bagadia, Executive Director, Choice Broking, "Yes Bank shares have given a two-year breakout at ₹18 and this is up Looking towards. Near term. Buy the stock at current levels for an immediate target of ₹24 and maintain a stop loss of ₹17 per share."
Suggesting stock market investors who believe in 'buy, hold and forget' strategy, Sumeet Bagadia said, "After crossing the immediate hurdle, the stock is expected to go up to ₹28 and ₹32 per share . However, once it breaches these. Two major headwinds, we can expect Yes Bank share price to rise to ₹48 to ₹50 in next 6-9 months."
yes bank second quarter results
In the July to September 2022 quarter, Yes Bank reported a 32.20 per cent decline in net profit on a year-on-year or year-on-year basis, despite registering a 31.7 per cent growth in net interest income (NIM). The private lender had claimed at the time that the increase in provisioning had resulted in a decline in the bank's net profit. According to the unaudited results of Yes Bank available on the website of BSE, Yes Bank's provisioning for Q2 FY23 stood at Rs 583 crore as against Rs 377 crore in Q2 FY22, up on a year-on-year basis. But 54.40 percent is more. However, Yes Bank's provisioning stood at ₹175 crore in Q1FY22, meaning the private lender increased its provisioning by 233.60 per cent on a QoQ-basis.
Yes Bank JC Flowers ARC Deal
In its recent exchange communication, Yes Bank informed the Indian markets about the sale of NPAs to JC Flowers ARC, in line with the bank's earlier decision to declare JC Flowers Asset Reconstruction Private Limited ("JC Flowers ARC") as The winner of the Swiss challenge process, the bank has now completed the assignment of the bank's identified stressed loan portfolio of up to ₹48,000 crore under the 15:85 structure by March 31, 2022, after adjusting recoveries between April 1, 2022 and November 30. Done. 2022."
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