Yes Bank share price dips despite positive outlook for Q1 results today

Q1 results today: Private lender Yes Bank will declare its first quarter results for the current financial year 2024-25. The market experts estimate good numbers are driven by the Bank's asset quality improvement in Q1 results today. However, despite the positive outlook for the Yes Bank results, shares of the private lender dipped on Friday, just one day ahead of its Q1 results announcement.

Also read: YES Bank Q1 Results Live: Earnings report to be announced today, July 20

According to stock market experts, the dip in Yes Bank's share price can be attributed to lower provisions and reduced operating expenses, which are expected to enhance the Bank's bottom line.

Yes Bank Q1 results 2024 preview

Speaking on Yes Bank Q1 results 2024, Manish Chowdhury, Head of Research atStoxBox, said, "In our opinion, the outlook for Yes Bank remains positive, primarily driven by the improvement in the Bank's asset quality and capitalization over recent years. Despite a temporary weakness in profitability due to higher funding costs, we anticipate Yes Bank will report a good set of numbers for Q1FY25. Lower provisions and a gradual reduction in operating expenses are expected to enhance the Bank's bottom line."

"The Bank's strategic focus on increasing its Priority Sector Lending (PSL) book is projected to boost its Return on Assets (ROA) trajectory moving forward. Furthermore, the expansion of its branch network and strong new disbursements in the Retail and SME sectors are expected to contribute to the healthy overall performance," the StoxBox expert said.

Yes Bank share price outlook

Speaking on the outlook for Yes Bank shares, Sumeet Bagadia, Executive Director at Choice Broking, said, “Yes Bank shares have strong support at ₹23 apiece. So, Yes Bank shareholders are advised to maintain a stop loss of ₹23 when the market opens on Monday. Fresh buying is not advised if the stock opens at a price lower than ₹24.80. Buying in Yes Bank shares is advised only above ₹25 on Monday. If this happens, one can buy Yes Bank shares above ₹25 for immediate ₹28 and ₹30 targets. However, they must maintain stop loss at ₹23.”

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