Following Q2 earnings, Yes Bank shares decline 2023. Experts believe now is an excellent time to purchase

 Following Q2 earnings, Yes Bank shares decline 2023. Experts believe now is an excellent time to purchase

Today's stock market: Following the disclosure of Yes Bank's Q2 2023 results on Saturday last week, Yes Bank shares were heavily discounted today. Yes Bank's stock price rose today when it began at a higher price per share of 17.40, but it quickly fell victim to a sell-off and touched an intraday low of 16.75, losing 2.50 percent in early Monday morning trades.

Stock market specialists claim that the market is responding to the Yes Bank Q2 2023 results released on Saturday since the private lender's margins and profits were under pressure during the quarter from July to September 2023. However, they claimed that the increase in financing costs has affected all Indian banks, including Yes Bank, and that this has put pressure on Yes Bank's revenue. Since State Bank of India (SBI) took over the administration of the then-crisis-hit private lender, they claimed that Yes Bank's fundamentals had been getting better every quarter. They advocated adding Yes Bank shares to one's portfolio and said that such significant drops in the price of Yes Bank shares should be seen as buying opportunities.

Why Yes Bank shares have decreased

Arun Kejriwal, the founder of Kejriwal Research and Investment Services, commented on the forecast for the price of Yes Bank shares, saying, "Yes Bank shares are under sell off heat today as market is responding to its Q2 results. During the quarter from July to September 2023, Yes Bank's income and margins were under pressure, and this decline is solely due to this. According to him, the Middle East conflict is stressing out the whole Indian stock market, and the decline in the price of Yes Bank's shares should be seen from this perspective as well.

But according to Arun Kejriwal, since SBI took over the management of the Yes Bank Ltd., Yes Bank's fundamentals have been getting better every quarter. Even after the large banks' three-year lock-in, he said, Yes Bank shares didn't decline much. This reveals a lot about the strength that retail investors have given Yes Bank shares.

Target price for Yes Bank's shares

Yes Bank shares have significant support established at levels of 16, according to Sumeet Bagadia, Executive Director at Choice Broking, who gave them a "buy" rating. For immediate objectives of 18 and 20, new investors might purchase Yes Bank shares in the range of 16.50 to 17.00 rupees.

Bagadia advised individuals who already own Yes Bank shares to increase their holdings at the indicated levels, while new entries may also be taken at the indicated levels with a stop loss of 16 each for near-term targets of 18 and 20.