YES Bank shares rose over 4 per cent in Thursday's session, ranking among the most active banking scrips in terms of volumes on both BSE and NSE. Reversing trend after four days of consecutive fall, YES Bank stock price opened at its previous close of Rs 15.90 and rose 4.4 per cent to the intra-day high of Rs 16.60. Amid high volatility, the stock also hit an intra-day low of Rs 15.65.
YES Bank stock trades higher than 100-day moving averages but lower than 5, 20, 50 and 200-day moving averages.
The shares of the private lender have fallen 1 per cent in one week, 8 per cent in a month. Year-to-date, the stock is down 9 per cent and 53 per cent in one year.
The market capitalisation of the lender rose to Rs 40,463.67 crore. The stock has touched a 52-week high of Rs 87.95 and a 52-week low of Rs 5.55.
In terms of brokerage views, Emkay Research gave a 'Sell' rating to the stock and set a target price of Rs 11 for the share, given sub-par return ratios and unfavourable 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.
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.
"The portfolio vulnerability becomes visible from, a spike in standstill non-performing loans or NPLs (from 1.5 per cent to 5 per cent), SMA-2 pool (from 2.4 per cent to 4 per cent), SMA-1 (from 1.6 per cent to 7.3 per cent), and additional restructuring outside of this pool at 3.2 per cent over and above the labelled non-performing assets at 22 per cent," it added.
Brokerage house Geojit, as well as BNP Paribas, have a 'Sell' rating for the stock and reduced its TP. Nirmal Bang continues to maintain a negative outlook on the bank. Elara Capital also recommends 'Sell' rating on YES Bank with a target price of Rs 6.
Similarly, Anand Rathi has lowered the bank's rating to 'Sell' with a target price of Rs 14.
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