Stock Market News

Yes Bank shares rise amid digital transformation commitment

2023.11.03 06:15


© Reuters.

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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,843.48 0.41%
ethereum
Ethereum (ETH) $ 3,354.05 0.84%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 260.18 0.09%
bnb
BNB (BNB) $ 653.50 3.71%
xrp
XRP (XRP) $ 1.55 12.16%
dogecoin
Dogecoin (DOGE) $ 0.466166 18.27%
cardano
Cardano (ADA) $ 1.10 24.80%
usd-coin
USDC (USDC) $ 1.00 0.07%
staked-ether
Lido Staked Ether (STETH) $ 3,354.23 0.70%
tron
TRON (TRX) $ 0.209606 5.21%
avalanche-2
Avalanche (AVAX) $ 43.68 20.73%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 8.54%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,972.16 1.06%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,666.44 0.24%
the-open-network
Toncoin (TON) $ 5.60 1.21%
stellar
Stellar (XLM) $ 0.436643 55.64%
polkadot
Polkadot (DOT) $ 7.59 22.64%
bitcoin-cash
Bitcoin Cash (BCH) $ 538.59 8.79%
chainlink
Chainlink (LINK) $ 16.95 10.63%
sui
Sui (SUI) $ 3.61 0.96%
weth
WETH (WETH) $ 3,353.19 0.86%
pepe
Pepe (PEPE) $ 0.000021 0.48%
leo-token
LEO Token (LEO) $ 8.56 2.51%
litecoin
Litecoin (LTC) $ 102.08 12.99%
near
NEAR Protocol (NEAR) $ 6.29 9.86%
aptos
Aptos (APT) $ 12.66 5.37%
uniswap
Uniswap (UNI) $ 10.41 11.45%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,531.39 0.98%
hedera-hashgraph
Hedera (HBAR) $ 0.150722 13.54%
internet-computer
Internet Computer (ICP) $ 11.06 15.09%
crypto-com-chain
Cronos (CRO) $ 0.192521 0.78%
usds
USDS (USDS) $ 0.999013 0.27%
ethereum-classic
Ethereum Classic (ETC) $ 29.57 5.87%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.538916 16.01%
render-token
Render (RENDER) $ 7.91 7.29%
kaspa
Kaspa (KAS) $ 0.156673 3.03%
bittensor
Bittensor (TAO) $ 524.84 4.80%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.11%
bonk
Bonk (BONK) $ 0.00005 3.08%
whitebit
WhiteBIT Coin (WBT) $ 24.63 0.97%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.33 4.02%
vechain
VeChain (VET) $ 0.04317 31.53%
mantra-dao
MANTRA (OM) $ 3.77 1.99%
dai
Dai (DAI) $ 1.00 0.06%
dogwifcoin
dogwifhat (WIF) $ 3.40 2.81%
arbitrum
Arbitrum (ARB) $ 0.827036 4.62%
cosmos
Cosmos Hub (ATOM) $ 7.91 19.91%
blockstack
Stacks (STX) $ 2.05 5.39%
filecoin
Filecoin (FIL) $ 5.12 9.32%