Yes Bank share price jumps after Q3FY25 business update. Buy or sell?

Stock market today: After announcing a positive business update for the October to December 2024 quarter, Yes Bank shares witnessed some buying interest during early morning deals on Friday. Yes Bank share price today opened with an upside gap and touched an intraday high of ₹20.19 apiece on the NSE, recording over a 2 per cent rise during the morning session. Yes Bank declared the Q3 business update for the current fiscal year just a few minutes ahead of the opening bell on Friday.

According to stock market experts, Yes Bank shares are rising today as the private lender reported a positive business outlook on Thursday for the October to December 2024 quarter. This has triggered buying interest in Yes Bank shares. They said Yes Bank's share price looks positive on the technical chart and may touch ₹22 and ₹24 apiece soon. However, they advised a strict stop loss at ₹19 while taking any position in Yes Bank shares.

Why is Yes Bank share price skyrocketing?

Speaking on the reason for rise in Yes Bank share price today, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, “Yes Bank share price is rising today as the private lender has reported a positive business update for the Q3FY25. The bank has reported a 12.60 per cent YoY rise in loans and advances, whereas its deposits grew by 14.60 per cent. This has triggered for a strong Q3 results in FY2024-25.”

Yes Bank share price target

Speaking on the outlook for Yes Bank shares, Sumeet Bagadia, Executive Director at Choice Broking, said, “Yes Bank shares are looking positive on the technical chart pattern. The stock has a strong base at ₹19, facing a hurdle at ₹22. On breaking above ₹22 on a closing basis, Yes Bank's share price may soon touch the ₹24 apiece level. Yes Bank shareholders can hold the stock for near-term targets of ₹22 and ₹24, maintaining the stop loss at ₹19.”

On the suggestion to fresh investors regarding Yes Bank shares, Sumeet Bagadia said, "Fresh investors can initiate momentum buying in Yes Bank shares for the near-term targets of ₹22 and ₹24. However, they must maintain a stop loss at ₹19 while taking a fresh position in the scrip.

Yes Bank Q3FY25 business update

Just a few minutes before the Indian stock market's Opening Bell on Friday, Yes Bank informed the Indian exchanges about its business update for the third quarter of the current financial year.

In Q3FY25, Yes Bank reported loans and advances of ₹2,45,035 crore, a Q-o-Q rise of 4.20 per cent against loan and advances of ₹2,35,117 crore and a YoY rise of 12.60 per cent against ₹2,17,523 crore.

Yes Bank's deposits stood at ₹2,77,199 crore in Q3FY25, 14.60 per cent higher than ₹2,41,831 crore reported in Q3FY24.

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.