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Business News/ Markets / Stock Markets/  Yes Bank shares dip after Q2 results 2023. Experts see good opportubity to buy
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Yes Bank shares dip after Q2 results 2023. Experts see good opportubity to buy

Yes Bank shares: Despite weak results, fundamentals are improving quarter after quarter ever since SBI took over the mangement of crisis-hit private lender, say experts

Yes Bank share price may not breach ₹16 support and buying around ₹16.50 to ₹17 is expected to fule bounce back in the baning stock. (MINT)Premium
Yes Bank share price may not breach 16 support and buying around 16.50 to 17 is expected to fule bounce back in the baning stock. (MINT)

Stock market today: After announcement of Yes Bank Q2 results 2023 on Saturday last week, Yes Bank shares today came under the sell off heat. Yes Bank share price today opened higher at 17.40 apiece levels, but soon came under the sell off heat and hit intraday low of 16.75 per share levels, losing to the tune of 2.50 per cent during early morning deals on Monday.

According to stock market experts, market is reacting to the Yes Bank Q2 results 2023 announced on Saturday as the private lender's margins and income has come under stress during July to September 2023 quarter. However, they said that Yes Bank's income has come under stress due to rise in cost of funding and maintained that cost of funding has gone up for all Indian banks and Yes Bank is not an exception to it. They said that Yes Bank's fundamentals have been improving quarter after quarter ever since State Bank of India (SBI) took over the management of the then crisis-hit private lender. They said that such big dips in Yes Bank shares should be seen as buying opportunity and advised adding Yes Bank shares in one's portfolio.

Reason for dip Yes Bank shares

Speaking on Yes Bank share price outlook, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Yes Bank shares are under sell off heat today as market is reacting to its Q2 results. Yes Bank's income and marigins have come under stress during July to September 2023 quarter and this fall is triggered by this only." He said that entire Indian stock market is under stress due to Middle East tension and Yes Bank share price dip should be seen from this angle as well.

However, Arun Kejriwal said that Yes Bank's fundamentals have been improving quarter after quarter ever since SBI took over the mangement of the Yes Bank Ltd. He said that Yes Bank shares didn't fell much even after the three years lock-in by big banks. This speaks much about the kind of strength Yes Bank shares have received from retail investors.

Yes Bank share price target

Giving ‘buy’ tag to Yes Bank shares, Sumeet Bagadia, Executive Director at Choice Broking said, “Yes Bank shares have strong support placed at 16 levels. Fresh investors can buy Yes Bank shares in 16.50 to rs 17.00 levels for immediate targets of 18 and 20 apiece."

Bagadia said taht those who have Yes Bank shares in their portfolio, they can add more at given levels whereas fresh entry can also be made at the given levels maintaining stop loss at 16 apiece levels for near term target of 18 and 20."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 23 Oct 2023, 10:16 AM IST
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