Heavy Buying Alert: State Bank of India-Backed Stock Under Rs 25 Surges 9.75 Per Cent As Company Reports A 148 Per Cent Jump in PAT
The stock is up by 30 per cent from its 52-week low of Rs 15.86 per share.
Today, the stock market ended the day in green with the BSE Sensex Index surging 0.76 per cent and the NSE Nifty-50 Index surging 0.65 per cent. Along with the market in green, one stock backed by State Bank of India (SBI), surged 9.75 per cent to an intraday high of Rs 21.29 per share from its previous closing of Rs 19.40 per share. At the closing bell, shares of the company were trading at Rs 20.56 per share, up 6 per cent with a spurt in volume by more than 3 times on BSE.
The buzzing stock name backed by State Bank of India, which holds a 23.98 per cent stake in the company as of September 2024 is none other than YES BANK LTD.
Yes Bank Ltd, established in 2003, is a full-service commercial bank providing a comprehensive suite of banking and financial services. It caters to a diverse clientele, including retail, MSME, and corporate customers. With a robust network of 1,192 branches, 150 BCBOs, and 1,300+ ATMs across India, Yes Bank offers convenient access to its products and services. Additionally, it has a representative office in Abu Dhabi and an IFSC Banking Unit (IBU) in GIFT City, expanding its global reach.
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According to the Quarterly Results, the total income increased by 16 per cent to Rs 9,225.5 crore and net profit increased by 148 per cent to Rs 566.6 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the total income increased by 17 per cent to Rs 18,221.7 crore and net profit increased by 88 per cent to Rs 1082.59 crore in H1FY25 compared to H1FY24. Looking at the annual results, the total income increased by 24 per cent to Rs 32,960.9 crore and net profit increased by 75 per cent to Rs 1,285.2 crore in FY24 compared to FY23.
The company has a market cap of Rs 64,450 crore with a PE of 36x, an ROE of 4 per cent and an ROCE of 6 per cent. The stock is up by 30 per cent from its 52-week low of Rs 15.86 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.