Yes Bank shares plunge 29% today
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- Many brokerages have downgraded Yes Bank stock after Q4 earnings
- The private sector lender reported highest quarterly loss of ₹1,506 crore
Yes Bank on Friday reported a loss of ₹1,507 crore for March quarter against a profit of ₹1,180 crore a year ago. Total provisions during the quarter increased more than nine-fold to ₹3,661.7 crore, as against ₹399.64 crore in the year-ago quarter.
Bloomberg economist Diksha Gera expects more downside on earnings in the near term as reforms kick in – fee and loan growth may weaken and provisions may remain elevated.
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No one can predict good time to enter.
Here is a tip:
Bloomberg economist Diksha Gera expects more downside on earnings in the near term as reforms kick in – fee and loan growth may weaken and provisions may remain elevated.
Invest 5%-10% at a time for safe trading, 20-30% if u r confident and aggressive
It is no no bank.
holding very few stocks of yes bank
My guess is YesBank going to crash land soon like IL&FS, something is not right, and few got smell of that hence 29% downside in just a day
@anshu
ILFS was a diff story bro! Their new CEO took charge this quater and he reversed many incomes recognised earlier which should have been recognized over the years.
ILFS And Jet airways hit hard, but he also made very conservative provisioning.
This was expected as their Acc to RBI previous CEO was less conservative and all (Even tho they gave clean chit later, but it looked fishy).
I am hopinh this was a one off thing, and won’t happen again. But yes their earnings growth will be down, but obviously more conservative.
Is it correct time to enter or more downside ahead?