YES Bank shares resume climb; private lender to announce Q4 earnings on April 27

Shares of YES Bank on Friday resumed their upward move after a single-day halt. The stock rose 1.85 per cent to hit an intraday high of Rs 25.37. It eventually settled 1.24 per cent higher at Rs 25.22. At this price, the scrip has climbed 7.18 per cent in the last five trading sessions.

The private lender, in a BSE filing, said, "A meeting of the Board of Directors of YES Bank will be held on Saturday, April 27, 2024, at Mumbai, inter alia, to consider and approve, the Audited Standalone and Consolidated Financial Results of the Bank for the Quarter (Q4) and Year ended March 31, 2024."

Earlier this week, it informed exchanges that its deposits were up 22 per cent, year-on-year (YoY), as of March 31, 2024. Loans and advances moved 14.1 per cent higher on a yearly basis.

Technical analysts largely remained mixed on the counter. Support on the counter will be around the Rs 20 zone. On the higher side, immediate resistance may be found at Rs 28.

Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher, said, "The stock has recently witnessed a decent correction from its peak level of Rs 32.85. It has taken support near Rs 20.55 to recover and moved past Rs 24 level. With charts looking good, we anticipate a further rise with next expected targets of Rs 27.50 and Rs 30. Maintain stop loss at Rs 23 level."

Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, said, "One can expect an upside target price of Rs 28. Keep a strict stop loss placed at Rs 22."

AR Ramachandran from Tips2trades said, "YES Bank looks slightly bearish on daily charts with strong resistance at Rs 26.15. A daily close below support of Rs 24.25 could lead to a downside target of Rs 20 in the near term."

The counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 61.91. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 72.06. Earnings per share (EPS) stood at 0.08.

The stock saw heavy trading volume on BSE today as around 3.28 crore shares changed hands. The figure was higher than the two-week average volume of 3.19 crore shares. Turnover on the counter came at Rs 82.52 crore, commanding a market capitalisation (m-cap) of Rs 72,552.60 crore.