Yes Bank share price dips ahead of Q4 results. Should you buy?

Yes Bank shares have been giving strong upside movement after the news break of private lender hitting record number of shareholders during Q4FY23. In last five sessions, Yes Bank share price has ascended to the tune of 7.50 per cent and Yes Bank shareholders are eagerly waiting for its Q4FY23 results, which is coming on 22nd April 2023 i.e. on tomorrow. While Yes Bank shareholders are expecting some upside move post-Yes Bank results fresh investors are looking for the bottom fishing opportunity in case there is any big dip in the Yes Bank share price on the penultimate day of Yes Bank results announcement.

On Friday deals of Indian stock market on Friday, Yes Bank share price finished at ₹16.20 apiece levels, around 1.80 per cent lower from its previous close of ₹16.50 per share.

According to stock market experts, number of equities of the Yes Bank has been increased in recent years that is going to work as a dampener for the Yes Bank shareholders in short to medium term. Apart from this, the bank is still going through the crisis it had to face around three to four years ago. After SBI took over the management of Yes Bank, Yes Bank crisis has come down but it's still persisting. So, Yes Bank will have to give an excellent Q4 results for big upside movement in its stock price when the market opens on Monday next week.

Yes Bank results in focus

Speaking on Yes Bank results and its connect with the Yes Bank shares, Sandeep Pandey, Director at Basav Capital said, "Recently, Yes Bank shares hit the headlines for achieving highest number of shareholders leaving Reliance Industries Ltd, HDFC Bank, TCS and Infosys behind. However, there is a catch that Yes Bank shareholders and stock market investors need to look at. In recent few quarters, the private lender has raised its private equity many folds that is going to put breaks on any sharp upside or downside movement in the banking stock. We believe that the move is aimed at containing any sharp fall in Yes Bank share price post-end of three years lock-in of SBI, Axis Bank, IDFC First Bank, HDFC Bank, Kotak Mahindra Bank, Axis Bank, etc. that ended in March 2023."

Sandeep Pandey who has worked as deputy vice president of the HDFC Bank went on to add that Yes Bank share price was expected to fall after the end of three years lock-in but due to the rise in number of shares of the bank, the downside has remained limited in last one month.

Yes Bank share valuations

Advising stock market investors to wait for Yes Bank results before taking any position in the scrip, Saurabh Jain, Vice President — Research at SMC Global Securities said, "Yes Bank management has to face a lot of challenges ahead like AT1-bond payment, in case the court verdict goes against then and improving its margins and NPA at a rapid speed. So, it looks imperative for stock market investors to wait for the Yes Bank results as Yes Bank shares are still highly priced by around 20-25 per cent, which means there is still possibility of correction in the banking scrip."

Yes Bank share price outlook

Speaking on important levels in regard to Yes Bank shares, Ravi Singhal, CEO at GCL Broking said, "Yes Bank shareholders are advised to maintain strict stop loss at ₹15 apiece levels as any positive outcome in the Yes Bank results may spurt in volume leading to rise in Yes Bank shares up to ₹18 apiece levels. However, fresh buying is recommended only when it sustains above ₹18 apiece levels for the target of ₹22 levels in near term."

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.