YES Bank share gained almost 7 per cent in Monday's bullish session, ranking among the most active banking scrips in terms of volumes on BSE and NSE.
YES Bank stock opened at Rs 15.90 against its previous close of Rs 15.80. Later, the stock rose 6.9 per cent to the intra-day high of Rs 16.90, amid high volatility. It also hit an intraday low of Rs 15.75 in the early session.
YES Bank stock trades higher than 5 and 100-day moving averages but lower than 20, 50 and 200-day moving averages.
The shares of the private lender have risen 4.1 per cent in one week. The share has declined 0.91 per cent in a month. Year-to-date, the stock is down 9 per cent and 52 per cent in one year.
Market capitalisation of the lender rose to Rs 0.40 lakh 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.
Kotak Institutional Equities also has a sell rating for the stock with a fair value of Rs 11, at a downside of 32%.
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.
Brokerage house Geojit, as well as BNP Paribas, have a sell rating for the stock and reduced its TP. Nirmal Bang also continues to maintain a negative outlook on the bank and values the stock at Rs 13, based on 1.0x FY23E ABV.
The free-fall in YES Bank's stock to double digits was on the back of corporate governance lapses and under-reporting of NPAs. This led to the placement of the lender under a moratorium by the central bank last year. A consortium of lenders led by the country's largest lender- State Bank of India infused money into the bank to bail it out from deteriorating financial health.