YES Bank to share Q2 results on October 21. Key details
Shares of YES Bank gained marginally to settle at Rs 17.20 on Wednesday. It commanded a total market capitalisation of close to Rs 49,500 crore.
- Oct 5, 2023,
- Updated Oct 5, 2023 8:23 AM IST
YES Bank has announced October 21 as the date for reporting quarterly and half yearly earnings for the period ended September 30. The private lender is keenly tracked by 48,21,665 small individual investors, who together held 22.34 per cent stake in the bank as of June 30. "A meeting of the board of directors of YES Bank will be held on Saturday, October 21, 2023, at Mumbai, inter alia, to consider and approve, the unaudited standalone and consolidated financial results of the bank for the quarter (Q2FY24) and half year (H1FY24) ended September 30, 2023," said the lender in its exchange filing with the bourses. Shares of YES Bank settled with marginal gains at Rs 17.20 on Wednesday. The private lender commanded a total market capitalisation of close to Rs 49,500 crore. Shares of YES Bank dropped about 21 per cent in 2023 so far. The stock has risen 4 per cent in the last one year. YES Bank has already shared its provisional quarterly business updates this week. The private lenders' loans and advances grew about 9.5 per cent on year-on-year to Rs 2,10,576 crore in the September 2023 period, while the quarter-on-quarter (QoQ) growth came in at 5.2 per cent. YES Bank's gross deposits rose about 17.2 per cent on a yealy comparison to Rs 2,34,360 crore in the second quarter of the ongoing fiscal, while sequentially its inched up about 6.8 per cent. Deposits growth, net of certificate of deposits (CDs), grew 18.3 per cent in the September quarter YoY, said the lender in the filing. Its current account saving account (CASA) increased a little more than 11 per cent to Rs 68,957 crore on a YoY basis, while growth was seen at close to 7 per cent, if compared to the June 2023 quarter. CASA to total deposits ratio (excluding CDs) came down to 29.4 per cent from 31.3 per cent on an annual comparison but was flat QoQ. Technical analysts are not-so-positive on the stock’s prospects in the short term as they see stock staying range bound and hovering around its major support levels Rs 17.50-18. They said that the stock needs to decisively break the Rs 18-level to deliver any significant move or gain momentum on the technical basis. One should avoid punting at the current juncture, they advised. “YES Bank stock must aggressively close over the Rs 18-level and then take out the Rs 20 to attract bullish accumulation to embark any rally,” said Avdhut Bagkar, Derivatives & Technical Analyst at Stoxbox. One should avoid this stock till then but they may drive up to Rs 25-27-levels if the stock is able to move above the given resistances, he said. YES Bank witnessed a gradual slide after resisting near the Rs 19 and has again arrived near the important support zone of Rs 16.75. The 50-EMA level of Rs 17.35 is important and a decisive close above that zone can improve the bias to anticipate further rise, said Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher. “Swing traders and short-term investors should closely monitor the prices in the upcoming days to gauge the market’s reaction to YES Bank’s Q2 performance report,” said VLA Ambala from Stocks Market Today. "Its recent senior management change adds a new layer of interest and potential impact on Yes Bank’s performance," she added.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Bandhan Bank shares Q2 update; advances up 12.3%, deposits 12.8%
YES Bank has announced October 21 as the date for reporting quarterly and half yearly earnings for the period ended September 30. The private lender is keenly tracked by 48,21,665 small individual investors, who together held 22.34 per cent stake in the bank as of June 30. "A meeting of the board of directors of YES Bank will be held on Saturday, October 21, 2023, at Mumbai, inter alia, to consider and approve, the unaudited standalone and consolidated financial results of the bank for the quarter (Q2FY24) and half year (H1FY24) ended September 30, 2023," said the lender in its exchange filing with the bourses. Shares of YES Bank settled with marginal gains at Rs 17.20 on Wednesday. The private lender commanded a total market capitalisation of close to Rs 49,500 crore. Shares of YES Bank dropped about 21 per cent in 2023 so far. The stock has risen 4 per cent in the last one year. YES Bank has already shared its provisional quarterly business updates this week. The private lenders' loans and advances grew about 9.5 per cent on year-on-year to Rs 2,10,576 crore in the September 2023 period, while the quarter-on-quarter (QoQ) growth came in at 5.2 per cent. YES Bank's gross deposits rose about 17.2 per cent on a yealy comparison to Rs 2,34,360 crore in the second quarter of the ongoing fiscal, while sequentially its inched up about 6.8 per cent. Deposits growth, net of certificate of deposits (CDs), grew 18.3 per cent in the September quarter YoY, said the lender in the filing. Its current account saving account (CASA) increased a little more than 11 per cent to Rs 68,957 crore on a YoY basis, while growth was seen at close to 7 per cent, if compared to the June 2023 quarter. CASA to total deposits ratio (excluding CDs) came down to 29.4 per cent from 31.3 per cent on an annual comparison but was flat QoQ. Technical analysts are not-so-positive on the stock’s prospects in the short term as they see stock staying range bound and hovering around its major support levels Rs 17.50-18. They said that the stock needs to decisively break the Rs 18-level to deliver any significant move or gain momentum on the technical basis. One should avoid punting at the current juncture, they advised. “YES Bank stock must aggressively close over the Rs 18-level and then take out the Rs 20 to attract bullish accumulation to embark any rally,” said Avdhut Bagkar, Derivatives & Technical Analyst at Stoxbox. One should avoid this stock till then but they may drive up to Rs 25-27-levels if the stock is able to move above the given resistances, he said. YES Bank witnessed a gradual slide after resisting near the Rs 19 and has again arrived near the important support zone of Rs 16.75. The 50-EMA level of Rs 17.35 is important and a decisive close above that zone can improve the bias to anticipate further rise, said Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher. “Swing traders and short-term investors should closely monitor the prices in the upcoming days to gauge the market’s reaction to YES Bank’s Q2 performance report,” said VLA Ambala from Stocks Market Today. "Its recent senior management change adds a new layer of interest and potential impact on Yes Bank’s performance," she added.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Bandhan Bank shares Q2 update; advances up 12.3%, deposits 12.8%