YESBANK

Yes Bank has shown signs of technical recovery after a long downfall caused by earlier management fraud and loss of public trust. SBI’s intervention and recent stake purchase by Japanese giant SMBC have restored some confidence, reflected in positive price action and renewed market interest. Technical charts show a base formation and upward channel, suggesting potential for further upside. FIIs turning positive, growing public optimism, and higher deposit inflows are supporting factors. Fundamentals: The bank’s revenue and operating profits have risen but remain weaker than peers. Other income lines are positive, NPA levels are under control, and deposit growth is evident. However, profit growth is not robust and some recent quarters showed a decline. Valuation remains a concern: Yes Bank’s P/E ratio at ~25 is higher than sector peers like HDFC, ICICI, Axis, making it look expensive compared to its direct competitors. Investable Points: Technical breakout, recovering public/FII sentiment, improving deposit growth, controlled NPA, proven turnaround under new management. Negatives: Profit growth not consistent, expensive valuation vs. peers, legacy reputation risks, sector challenges.