Yes Bank share price recovers after 15% plunge on Q2 earnings; right time to buy the stock?

Yes Bank share price plummetted 15% to a nearly one-month low on Friday morning before a sharp recovery later, a day after the bank reported weak fiscal second-quarter results. Yes Bank reported a 4% drop in net profit year-on-year due to higher provisions and weak assets quality. Today morning, Yes Bank shares dived to a four-week low of Rs 168.60 per share on the BSE. However, the share price recovered nearly 11% from its day’s low to trade at Rs 187.20 per share, down 5.62%.

Yes Bank’s weaker-than-expected performance came at a time when the bank continues its search for a successor to CEO Rana Kapoor. The Reserve Bank of India had last month denied Kapoor an extension of his term with the bank.  Yes Bank share price has declined nearly 38% since the announcement. On Thursday, Yes Bank reported the first drop in quarterly profit in around three years during the quarter due to the impact of a one-time mark-to-market (MTM) provisioning, predominantly on corporate bonds.

Source-

https://www.financialexpress.com/market/yes-bank-share-price-recovers-after-15-plunge-on-q2-earnings-right-time-to-buy-the-stock/1362018/