Yes Bank shares rise amid digital transformation commitment

Shares of Yes Bank closed at ₹16.07 on Friday, marking a 3.05% increase from the previous trading day’s closing price of ₹16.02. The stock, which opened at the same price on the BSE, reached a high of ₹16.18 and a low of ₹15.91 during the day. The bank’s shares are currently trading at ₹16.56 per share, according to an AI-generated blog with time-stamped updates.

The bank’s market cap stands at ₹46,215.04 crore, with institutional and non-institutional stakes accounting for 64.10% and 35.90% respectively. The stock has seen a 52-week range of ₹14.1 to ₹24.75.

Yes Bank has also attracted significant trading volumes with over 18 million shares exchanged on Friday. Earlier in the day, the shares were trading at Rs. 16.52 with a high of Rs. 16.63 and low of Rs. 16.10, attracting over 14 million trades.

The bank’s commitment to technological innovation and digital transformation was highlighted by its Memorandum of Understanding (MoU) with Cloud Ace India, aimed at supporting startups via the YES Connect platform.

In comparison, shares of Karnataka Bank, IndusInd Bank, and Axis Bank were trading at Rs. 72.15, Rs. 1366.55, and Rs 764.45 respectively on Friday.

InvestingPro Insights

In light of the recent market data, InvestingPro provides some valuable insights for investors considering Yes Bank. According to InvestingPro data, Yes Bank’s net income is expected to grow this year, making it a potentially profitable investment. This aligns with analysts’ prediction that the company will be profitable this year.

On the other hand, InvestingPro Tips suggest that the bank is quickly burning through cash and has low earnings quality with free cash flow trailing net income. The bank’s valuation implies a poor free cash flow yield, which might be a point of concern for potential investors.

Moreover, Yes Bank’s price has performed poorly over the last decade, and it has seen a significant fall over the last five years. Despite being a prominent player in the Banks industry, its revenue growth has been slowing down recently and it suffers from weak gross profit margins.

InvestingPro offers numerous additional tips for Yes Bank and other companies, providing a comprehensive view of the market for its users. These insights can be invaluable for investors looking to make informed decisions.

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