YES Bank Ltd shares slipped 0.63 per cent in Tuesday's trade to touch their one-year low of Rs 18.80. Later, the stock regained some strength and was last seen trading 0.69 per cent up at 19.05. At this price, it has corrected 25.85 per cent in the last six months.
The private lender is scheduled to declare its third-quarter (Q3 FY25) results on January 25, 2025. "YES Bank will be held on Saturday, January 25, 2025, at Mumbai, inter alia, to consider and approve the un-audited standalone and consolidated financial results of the bank for the quarter (Q3) and nine months ended on December 31, 2024," it stated in a BSE filing.
"For YES Bank, there is no significant change in terms of its business-related fundamentals. We need to see how the upcoming quarterly results are going to be," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities. Investors with a high-risk appetite should only consider holding on to the stock at present, the market expert added.
Technically, support on the counter could be seen in the Rs 18.8-18 range. With that being said, a few analysts said the near-term upside is capped around Rs 22 level.
"YES Bank has been trading in a corrective phase. However, the technical parameters are showcasing a positive divergence, suggesting a trend reversal in the near period. For now, the subzone of Rs 18 is likely to provide support, while any breakthrough could lead to a further correction. On the higher end, the swing high of Rs 22 is likely to be seen as an intermediate hurdle in the near term," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.
"The stock price is slightly bullish on daily charts with strong support at Rs 18.8. A daily close above an immediate resistance of Rs 20.3 could lead to an upside target of Rs 21.8 in the near term," said Sebi-registered research analyst AR Ramachandran.
The counter traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 35.03. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The lender's stock has a price-to-equity (P/E) ratio of 34.11 against a price-to-book (P/B) value of 1.28. Earnings per share (EPS) stood at 0.55 with a return on equity of 3.75.