Yes, Bank has been suffering great lately. For the past 1 year, the organization has not been able to recover from losses.
Recently, the organization faced a drastic fall in the target prices of its stock, which fell by almost 50%. The Target price earlier was around Rs. 155 but in no time it fell back to Rs. 80, that’s an insane fall for any organization, no matter if it’s suffering from losses or not.
The brokerage termed the rating of Yes Bank’s stock as “Underperformed” not too long ago.
People had stopped investing in the stocks of Yes Bank mainly for the fact that Yes Bank is not enjoying a great reputation in the market right now. It has been surrounded by its fair share of controversies in the recent past which led to such a situation.
The target pricing was set so low for the fact that the organization would have suffered major losses if the Target price was kept intact at Rs. 155. Sure lowering the prices will still prove to be a loss to the organization but the losses would not be as big as before.
Although the target pricing fell, Yes Bank still managed to gain 2.7% intraday on 10 the of July. It came as a surprise since Jeffery himself stated liquidity problems. In such a case, it was very difficult to earn great intraday. Yes Bank, however, managed to achieve the growth by nearly 3%.