Stock market analysts have maintained ‘buy’ rating on Yes Bank stock with an intraday target of Rs 145.

According to them, interested traders can purchase the stock above Rs 143 with a strict stop loss of Rs 140. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 150.
 
Shares of the company, on Monday (Aug 11), closed at Rs 142.50 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 3350978. The share price has seen a 52-week high of Rs 277.80 and a low of Rs 102 on BSE.

The stock has great potential. It will achieve the target price as the bank has robust growth plans and strong operating capabilities.

The banking stocks performed well and saw heavy buying action on yesterday. The strength in banking stocks helped the BSE Sensex closed the day on a high note. There are big expectations from banking stocks in today’s session as well.

Yes Bank increased its benchmark prime lending rate (BPLR) by 0.5% to 17% on Thursday (July 31) effective from August 1.

The bank has also raised its interest rates on fixed deposits across various tenors. Deposits of one year to 18 months maturity will attract a higher rate of 10% as compared 9.75% earlier.

With the recent modification, Yes Bank’s BPLR presently stands at 17% as against 16.5%, earlier.

Yes Bank reported a substantial growth in its standalone net profit for the three months period ended June 2008. During the quarter, the bank’s profit arose 50.92% to Rs 543.30 million from Rs 360 million during the same quarter, previous year.

The company reported earnings of Rs 1.83 a share during the quarter, registering 41.86% growth over previous year period.

Interest income for the quarter surged 52.16% to Rs 4,146.70 million, whereas total income for the quarter zoomed  39.51% to Rs 4,861.90 million, when compared with the prior year period.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra.