Yes Bank shares give up early gains but volumes lower than Friday

Shares of Yes Bank Ltd. gave up early gains on Monday, October 13, indicating some resistance at higher levels. The stock, before Monday, had gained in eight out of the last nine trading sessions.

Yes Bank made an intraday high of ₹24.29 on Monday, before giving up those gains. However, Monday's volumes are lower than that of Friday, when 24 crore shares have changed hands, compared to 55 crore on Friday.

Last Friday had seen 55 crore shares of Yes Bank change hands compared to its 20-day average of 9.6 crore. 19 crore out of those were marked for delivery, which was also higher than the 20-day delivery average of 4.5 lakh shares.

The stock is also trading above the ₹21.5 per share price at which Japan’s Sumitomo Mitsui Banking Corporation (SMBC) acquired its initial stake in the lender.

The stock has gained over 22% so far this year, recovering from a 9% decline in 2024, and has risen close to 15% in the past month alone. The analyst sentiment remains cautious. Of the 11 analysts tracking Yes Bank, nine have a "sell" rating and two recommend holding the stock. None currently have a "buy" call.

In a recent interaction with CNBC-TV18, Yes Bank MD & CEO Prashant Kumar said the lender could achieve a Return on Assets (RoA) target of 1% before FY27, with credit growth projected between 10% and 12% for the current financial year. He also indicated that the bank and SMBC will decide on a strategic course ahead but do not expect any significant change in direction.

Shares of Yes Bank are currently trading 0.25% lower at ₹23.94.

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