YesBank recently announced its Q3 2019 Earning.
The stock also has been in limelight for a quite long time and have been very volatile for last 6 months.
Yes Bank Q3 updates
Oct-Dec net profit at Rs. 10 bln vs. expectation of Rs. 10.52 bln… total income at Rs. 88.5 bln vs. Rs. 64.9 bln… gross NPA at 2.1% vs. 1.6% quarter ago… net NPA at 1.18% vs. 0.84% quarter ago
GNPA improved sequentially to 1.32% from 1.60% last quarter (excluding ILFS)
YES BANK SAYS – Rs 570.8 Crores of accelerated provisioning on exposure to a stressed Infrastructure conglomerate – Seems like ILFS
Major announcement from Bank is :
Ravneet Gill (Deutsche Bank India chief ) to replace Rana Kapoor. New MD & CEO to join on or before March 1
With the announcement of new CEO confirms that the bank is in good hands and new management can help it to recover its past glory.
Short Term Investors should exit from the bank around 220-230 levels.
Mid/Long Term Investors should accumulate around 180-200 levels. Don’t
Technical Outlook
YesBank made a low of 145 on 29 Dec and has been steadily rising. The stock has crucial support near 180/210 levels and resistance around 230/250 levels.
Therefore any long should be added only if stock is able to close above 230 levels. There is high probability that stock could bounce towards 200 levels and stock has given staggering return of 55-60% in less than 1 month of period.