Yes Bank Q2 preview: Among 21 listed companies going to announced Q2 results today, Yes Bank Ltd is one of them. The private lender has informed Indian stock market bourses that meeting of its board of directors is going to take place on 21st October 2023 to consider and approve un-audited financial results for the second quarter of the current financial year and half year ended September 2023.
Yes Bank informed Indian stock market about the board meeting citing, “Notice is hereby given that a meeting of the Board of Directors of YES Bank Limited (the “Bank”) will be held on Saturday, October 21, 2023, at Mumbai, inter alia, to consider and approve, the Unaudited Standalone and Consolidated Financial Results of the Bank for the Quarter (Q2) and half year ended September 30, 2023.”
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Yes Bank shares rise ahead of Q2 results 2023
As Yes Bank results for Q2FY24 is coming today and there would be no action at Indian stock market today. So, bulls were found showcasing buying interest in Yes Bank shares during Friday deals. On Friday, Yes Bank share price opened with upside gap and went on to hit intraday high of ₹17.85 apiece levels on NSE, around 4.5 per cent higher from its Thursday close price of ₹17.05 per share. However, Yes Bank shares finally ended at ₹17.35 levels, around 2 per cent upside against Thursday close.
Expectations from Yes Bank Q2 results today
According to stock market experts, Yes Bank shares surged on Friday as market is expecting better Q2 earnings from the private lender. They said that Yes Bannk is expected to report improved margins due to lowering of provisionings. They said that net income of the bank is also expected to improve in July to September quarter. However, they said that majority of the Indian banks are facing challenges in interest income as high interest regime has peaked out in India and Yes Bank won’t be an exception to it.
Speaking on the market expectations from Yes Bank Q2 results today, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “In Q2 rsults today, market is expecting turnaround in fundamentals of the private lender. Market expects lowering of provisioning after improvement in corporate governance of the private lender, which may led to better margins and net income of the bank.”
Expecting challenge for its lending business, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “High interest rate regime has peaked out and hence majority of the Indian banks are facing challenges in their lending business. Yes Bank is no exception to it and market is expecting challenge for the private lender on interest income front.”
Profitmart Securities expert maintained that Yes Bank may report flattish growth or may be decline in net interest income as cost of funding has gone up in the recent quarter. However, he maintained that due to low base of the last year, Yes Bank would be able to report strong growth in net profit in its Q2 earnings for the current financial year.
“On year-on-year (YoY) basis, Yes Bank is expected to report strong growth in net profuit as las year base was much lower. So, itn would be interesting to see how the private lender has performed on net profit front in comparison to the previous quarter.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 21 Oct 2023, 07:11 AM IST