Yes Bank, a prominent player in the Indian stock market, experienced a significant surge in its share price, rising by 8% following the announcement of robust Q4 results for the year 2024.

The surge in buying activity was evident from the early morning deals on Monday, shortly after the disclosure of the bank's impressive quarterly performance.

The trading day commenced with Yes Bank shares opening at ₹27.50 apiece on the National Stock Exchange (NSE), swiftly climbing to an intraday high of ₹28.55 per share within minutes of the market's opening bell.

This surge marked an impressive 8% intraday rise, reflecting investor confidence in the bank's performance.

Experts in the stock market attribute this surge to Yes Bank's strong Q4 results for 2024. They suggest that shareholders hold onto their positions, with a recommended stop loss at ₹24 per share, while anticipating near-term targets of ₹30 and ₹32 apiece.

Notably, the intraday high of ₹28.55 per share brought Yes Bank close to its existing 52-week high of ₹32.85 per share.

Analyzing Yes Bank's Q4 results, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, highlighted a notable increase in net profit, reaching ₹451 crore for the January-March quarter of the financial year 2023-24. This represents a remarkable 123% surge compared to the same period the previous year.

 Additionally, the bank's gross NPA decreased to 1.7% from 2.2% year-on-year, while net NPA improved to 0.6% from 0.80% during the same period. Furthermore, the bank commenced operations as PSP Payment Bank for both existing and new consumers of Paytm during the fourth quarter.

Echoing similar sentiments, Shreyansh V Shah, Research Analyst at StoxBox, emphasized Yes Bank's positive trajectory under CEO Prashant Kumar.

He noted a significant growth in the bottom line, witnessing a 123% year-on-year and 95% quarter-on-quarter increase, attributed to higher other income and lower provisions.

Shah also highlighted the bank's strong performance in operating parameters such as NIMs and NPAs, indicating resolution of legacy issues and strategic moves yielding positive outcomes.

Looking ahead, Sumeet Bagadia, Executive Director at Choice Broking, identified key levels for Yes Bank's share price. He indicated a strong support level at ₹24 per share, cautioning against weakness if breached. Conversely,

he noted resistance at ₹30 to ₹32 per share, suggesting a potential for a robust upside movement upon breaching this zone.

In conclusion, Yes Bank's impressive Q4 results have sparked a notable surge in its share price, attracting investor attention.

However, investors are advised to exercise caution and consider expert opinions before making investment decisions in this dynamic market environment.

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