Technically Yes Bank (CMP: 826) has immediate good support of 801 followed by 788-771 zone. Consecutive closing below 771, it could crash to 748-700 zone under worst bear market scenerio (low probability as of now).
On the upside, it has to sustain above 840 for an immediate target of 855-865 and sustain above that, it could scale 878-907 in the short term. Consecutive closing above 920-935, target may be around 975-1050 in the mid to long term (FY:16).
Bottom line (Cyclical Trading Levels):
748-771-788-801-823-840-855-865-878-907-920
Q4 result of Yes Bank is largely above market expectations backed by strong NII & other income (specially Fee & Cross Sale).
Going ahead, management of Yes Bank is confident enough to keep the sequential growth in the net earnings of the bank on the back drop of increasing retail/SME advances, and CASA deposits. Its also very active in CV business. Being a new generation bank, backed by robust management & system, over all asset qualities (NPA) is also expected to stay stable, despite out performing industry credit growth.
To support future growth, Yes Bank management board also recently approved a host of plans like possible QIP of $1 bln, raising FII limit from present 49% to 74% and listing in US. Its also expanding fast domestically by opening new branches and also in Gulf Countries (Abu Dhabi) to tap potential NRI deposits etc.
As par BG metrics of quick TF valuation, median value of Yes Bank is around 900 as par current TTM EPS. Projected value may be around 1020-1150 (FY:16-17) under the current market conditions (Bull Market Scenario).
| SCRIP | EPS(TTM) | BV(Act) | P/E(AVG) | LONG TERM | SHORT TERM | MEDIAN VALUE | 200-DEMA | 10-DEMA |
| YESBANK | 49.15 | 219.73 | 21.13 | 860.60 | 923.35 | 891.97 | 713.14 | 820.93 |
| YESBANK | 63.9 | 285.65 | 21.13 | 981.27 | 1052.82 | 1017.04 | 713.14 | 820.93 |
| YESBANK | 83 | 371 | 21.13 | 1118.35 | 1199.89 | 1159.12 | 713.14 | 820.93 |
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