Yes Bank shares witnessed a surge of over 6% on Tuesday, with experts suggesting a target price of ₹40. The stock initially reached ₹26.25 on the Bombay Stock Exchange (BSE) but experienced a slight decline later. At the closing time, one share of the bank was valued at around ₹25.67, showing a rapid increase of almost 4% compared to Monday’s level of ₹24.67.
According to experts closely monitoring Yes Bank shares, there is potential for further growth in the coming days. The stock might reach a range between ₹30 to ₹40, and experts advise holding the shares. However, they recommend setting a stop loss at around ₹22-23 to mitigate potential losses.
The sudden surge in Yes Bank shares wasn’t entirely unexpected, given that the stock has been on an upward trajectory for the past two months. It is noteworthy that the company’s shares were available at ₹15.80 approximately two months ago and have now risen to nearly ₹26.
What the experts are saying:
Vishal Parikh, Vice President (Technical Research) at Wise, believes that the next target price for Yes Bank is between ₹34 and ₹40. However, he cautions that if the stock falls below ₹22, further decline might be observed.
On Tuesday, Yes Bank shares reached a 52-week high. Over the past 52 weeks, the stock has demonstrated remarkable growth, surging by 85% from the low level of ₹14.10 on October 23, 2023. In the last six months alone, Yes Bank has provided a substantial 50% return to positional investors. Investors have found comfort in the fact that the shares have yielded a return of 15% in 2024 so far.
(Note: This is not investment advice. The stock market is subject to risks. Seek expert advice before making any investment.)
In summary, the recent surge in Yes Bank shares is indicative of a positive trend, with experts projecting a potential upward movement to ₹40. Despite a brief correction, the stock has shown resilience, and analysts recommend a cautious but optimistic approach for investors. The 52-week high and the significant returns over the past few months contribute to the positive sentiment surrounding Yes Bank shares.
As with any investment, it is crucial for investors to carefully consider the associated risks and seek professional advice before making decisions. The stock market is dynamic, and factors such as market conditions, economic changes, and company performance can influence the trajectory of share prices. Keeping a close eye on developments and staying informed about the financial landscape can aid investors in making well-informed decisions.
In conclusion, the recent performance of Yes Bank shares reflects both the volatility and potential opportunities present in the stock market. While the target price of ₹40 suggests optimism, investors should approach with caution, considering the inherent risks in the financial market. The 52-week high and impressive returns over the past months indicate a positive outlook, but individual circumstances and risk tolerance should guide investment decisions.