Yes Bank Shares Looks Strong Today; Hit 52 Week High
Yes Bank share price today opened upside and went on to climb to a new 52- week peak of Rs23 per share levels on NSE, logging an intraday gain of near 5 percent during Monday market deals.
According to stock market experts, Yes Bank shares are looking strong from both technical and fundamental perspectives. The Bank's shares have broken 200 days exponential moving average [DEMA] for the first time in nearly four years. As per the market experts, Yes Bank shares are looking positive on the chart after giving a fresh breakout on the chart pattern at Rs 21 per share level. So, in the short term, one can expect the banking shares to touch Rs 25 and Rs 28 per share levels.
Yes Bank's fundamentals are looking strong after the 2018 crisis. In the annual report of Yes Bank, the private lender has reported that it has 75 lakh happy customers. The lender has also reported 3.54 lakh crore total assets and 2.03 lakh crore total advances.
Read Also : Shipbuilders PSU stocks on down-trail, Mazagon Dock, GRSE, Cochin Ship plunges by 10%In the current age of digital payments, Yes Bank is number one in UPI payments and NEFT outward transactions. It governs 22.80 percent market share in digital payments transaction volume in India. Apart from this, Yes Bank Ltd has 1,192 branches in 700 cities across India. Its total number of ATMs is around 1300 in these 700 cities. It has reported a second straight year of profitability in FY23 with YoY growth of 9.20 percent.
The shares have been in an uptrend after ushering in the financial year 2023-24. In FY 2023-24, Yes Bank has risen from around Rs 14.75 to Rs 23 per share levels, delivering to the tune of 55 percent in FY24. In the last month, Yes Bank's share price has ascended from around Rs20.15 to Rs23, logging near 15 percent rally in this time. Likewise, in the last six months, Yes Bank's share price has rallied around 40 percent.
Read Also : SAIL-Bhilai Steel Plant’s BF-8 achieves 16 MT production milestoneIn March 2020, State Bank of India invested Rs 7,250 crore [equivalent to Rs85 billion or US$1.1 billion in 2023] in Yes Bank amid a financial crisis and holds 30 percent stake in the company as of 28 July 2020.
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