Yes Bank share price today: Expert says that immediate support is at Rs 13.70 while resistance is at Rs 15.30 levels

Yes Bank share price today: Sumeet Bagadia, Executive Director of Choice Broking says that on the daily chart, Yes Bank share price has been falling for the last many days, which indicates a bearish move for the near-term at least. Yes Bank share price closed at Rs 14.65, up Rs 0.2 or 1.4%. Yes Bank share price moved down from Rs 15.6 to 14.65 in last 1 week.

Sumeet says that Yes Bank share price has shifted below 100 days Exponential Moving Average, which suggests more downside in the counter. Hence, Sumeet is expecting a downward move in Yes Bank for the near-term. On the downside, it has an immediate support at Rs 13.70 while on the higher side it may find resistance at Rs 15.30 levels.

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Ashis Biswas, Head of Technical Research at CapitalVia Global Research says that Yes Bank had a stronger operational performance than forecast due to a higher NIM, higher non-interest revenues, and better cost management. Total stress at the bank is Rs. 385.8 bn (net of total provisions), or 23% of total advances and 104 % of current equity reserves. The SMA 1+2 book increased 181 % year on year to Rs. 188.5 billion, accounting for 11.1 % of overall advances, up from 4% in 2QFY21.

Ashis said that Yes Bank management stated that its current capital level is ample to follow growth for another 2-3 years. NII grew the cash flows by 1.4 times year on year and by 29.7% quarter over quarter. The Non-interest profits of Yes Bank increased by 91.4 % yoy and 69.4 % qoq (Rs 5.4 bn).

Anand Rathi says that Yes Bank disclosed an overall stress book of Rs 185.5 bn (10.9% of loans), of which Rs 83 bn are standstill accounts. The potential Yes Bank stress book is up 106% from what the bank disclosed in the last quarter. Besides the Rs 185 bn book, Rs 123 bn is outstanding as SMA-1.

Anand Rathi says that although most of the Yes Bank stress stemmed from the corporate book, increases in SME and the retail book are concerns. Given these fresh disclosures, Yes Bank slippages are expected to be higher than what management had talked about earlier.