Yes Bank shares at ₹100 in five years? Here's what a chartist has to say - CNBC TV18 (2024)

If one can hold shares of private sector lender Yes Bank Ltd., for a time horizon of five years he / she can make stellar profits, according to technical analyst Prakash Gaba.

Answering a viewer query on CNBC Awaaz, Gaba said that according to Yes Bank's charts, a bottoming out process is currently underway, but when will that be completed, is unclear.

However, Gaba added that the stock, which closed on Tuesday at ₹23.67, needs to have a close above ₹30 on a monthly timeframe for having a breakout.

"As and when that happens, that (the breakout above ₹30) will take the stock to ₹100, but it may take five years," Gaba said.

For the March quarter, Yes Bank reported a 2% growth in its Net Interest Income (NII) to ₹2,153 crore

Kotak Institutional Equities maintained its "Sell" rating on Yes Bank post its March quarter results with a price target of ₹19 apiece. The brokerage said that while the business of the lender is improving, it would wait for far lower valuation multiples to change its view.

Shares of Yes Bank ended 0.8% lower at ₹23.67. The stock is up only 4.5% so far in 2024.

Note To Readers

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.