Yes Bank shares fall; JP Morgan cuts to 'underweight'

Apr 15 2014, 13:52 IST
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Macro headwinds, elevated credit costs and challenges in Yes Bank's retail loan business and retail deposit base were other reasons for the downgrade, the investment bank said. (AP) Macro headwinds, elevated credit costs and challenges in Yes Bank's retail loan business and retail deposit base were other reasons for the downgrade, the investment bank said. (AP)
SummaryMacro headwinds, elevated credit costs and challenges in Yes Bank's retail loan business and retail deposit base were other reasons for the downgrade, the investment bank said.

Shares in Yes Bank Ltd fall as much as 6.7 per cent after JP Morgan downgraded the stock to "underweight" from "overweight," saying absolute valuations "aren't that attractive in the context of slowing earnings."

Macro headwinds, elevated credit costs and challenges in Yes Bank's retail loan business and retail deposit base were other reasons for the downgrade, the investment bank said.

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