Buy Yes Bank With Target Of Rs 330
Stock market analyst Ashwani Gujral is of the view that investors can buy Yes Bank stock with short term of Rs 330.
According to analyst, the interested investors can buy the stock with stop loss of Rs 290.
Today, the shares of the bank opened at Rs 308 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 304.70 and a low of Rs 150 on BSE.
Current EPS & P/E ratio stood at 15.72 and 19.81 respectively.
Yes Bank has inked a co-operation pact with South Koreaean Hana Daetoo Investment Bank (HDIB) to guide firms in cross-border agreements.
The coalition will leverage on each of the collaborators' strong local familiarity and business connections to open-up mergers and acquirements JVs, equity raising and opportunities for merchant banking.
Sturdy growth in earnings together with lower provisioning for bad loans assisted Yes Bank record an increase of 56.3% in its net profit, which stood at Rs 156.4 crore for the three month period ended June 2010.
The bank's loan book increase stood at 107.2%, which together with declining cost of funds aided net interest income surge 67.1% during the period under review.
Net interest margins remained steady at 3.1%.
The net NPA ratio of the banking institution was 0.04% on end-June as against 0.24% in the same period of 2009.