HomeCURRENT AFFAIRSBUSINESSYes Bank Soars to 52-Week High but Plunges 20% After Goldman Sachs...

Yes Bank Soars to 52-Week High but Plunges 20% After Goldman Sachs Downgrade; What’s Next?

Yes Bank Share Price Rollercoaster: Soared to 52-Week High, Crashed 20%, Now What?

Yes Bank, a popular player in the Indian banking sector, has witnessed a roller coaster ride in recent weeks. While the stock reached its 52-week high of Rs 32.81 on February 9th, it has since experienced a downward trend, closing at Rs 26.23 on Friday, marking a 20% drop in just 11 trading days. This decline has also impacted the company’s market capitalization, which currently stands at Rs 75,453 crore.

Brokerage Insights on Yes Bank Share

Adding to the uncertainty surrounding Yes Bank’s future, Goldman Sachs issued a report setting a target price of Rs 16 for the private bank. This translates to a potential decline of 39% from the current level, raising concerns among investors. Notably, Goldman Sachs maintained “Buy” calls on other private banks like HDFC Bank, Axis Bank, IndusInd Bank, Bandhan Bank, and Kotak Mahindra Bank, further highlighting their concerns regarding Yes Bank’s prospects.

Yes Bank’s Performance

Despite the recent dip, Yes Bank‘s share price has delivered a return of approximately 6% in the past month. Moreover, it boasts a 55% increase in the last 6 months and a 60% profit for investors over the past year. However, a longer-term perspective reveals a stark contrast, with the stock facing an 89% decline in the last five years.

Challenges and Opportunities

While Goldman Sachs’ report throws a curveball at Yes Bank’s future, it’s important to remember that the financial sector itself faces various challenges. Goldman Sachs expects a 5% and 2% cut in earnings estimates for companies in its coverage universe for FY25 and FY26, respectively. This broader context suggests that Yes Bank’s current situation might not be entirely isolated.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

Enter Your Email To get daily Newsletter in your inbox

- Advertisement -

Latest Post

Latest News

- Advertisement -