Yes Bank shares were cruising at the bourses on Monday after the lender posted strong results for the quarter ended March. The troubled bank saw its shares surge around 9% to hit an intraday high of ₹28.55. So if you took a bet on the stock last year, here’s what would have happened.

The Investment: If you invested ₹10,000 in the Bank on April 28, 2023, when it was trading at around ₹15.60, you would have received around 641 share of the company. Today, those 641 shares would have been worth around ₹17,300.

See also: Why ICICI Bank’s Share Price Is Climbing Nearly 2% After Q4 Results

Q4 Earnings: The private lender reported a 123% year-on-year (YoY) increase in its profit for the March quarter, reaching ₹452 crore. This surge in profit is primarily attributed to income tax refunds totalling ₹247 crore, which includes interest on a refund of ₹118 crore received during the quarter.

Analysts at Kotak Securities were not overly impressed by the numbers. The brokerage firm has upheld its “sell” call on the stock with a target price of ₹19. This target reflects approximately a 20% downside from the stock’s current market price of around ₹27. Kotak Securities emphasised that while one-offs have dominated the Q4 earnings, the recovery process for Yes Bank is expected to be slow.

Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.

Note: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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