Shares of YES Bank were trading 2% higher in Monday's early session, ranking among the most active banking scrips in terms of volumes on both BSE and NSE.
The stock of private lender opened higher at Rs 17.20 against its previous close of Rs 16.90. The stock gained 2.3% to the day's high at Rs 17.30 and also hit an intraday low of Rs 16.95. It has gained 5.2% in the last 2 days.
YES Bank stock trades higher than 5, 20 and 100-day moving averages but lower than 50 and 200-day moving averages.
The share has fallen 5% in a month.Year-to-date, the stock is down 4%. However, it has risen 4% in one week.
Market capitalisation of the lender rose to Rs 42,718.61 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 55% in one year.
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.
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.
"The portfolio vulnerability becomes visible from, a spike in standstill non-performing loans or NPLs (from 1.5% to 5%), SMA-2 pool (from 2.4% to 4%), SMA-1 (from 1.6% to 7.3), and additional restructuring outside of this pool at 3.2% over and above the labelled non-performing assets at 22%," it added.
Meanwhile, Private banking index rose 1.35% today, in line with Sensex that rose 1.24% intraday. Sensex and Nifty continued hitting new all-time highs today. Both benchmarks hit fresh lifetime highs of 51,472 and 15,133 earlier today.