An analyst from Mirae Asset Sharekhan said that YES Bank has retraced towards the upper end of its consolidation range after declining from its recent high of Rs 25.60.
Nomura said YES Bank aims to improve its core-ROA by improving margins and turning around its retail business and containing credit cost before benefits of SR recoveries fade out.
YES Bank, a widely-track stock with 59,17,870 retail investors as of June 30, has a consensus target of Rs 20.90 against its prevailing price of Rs 23.04, suggesting 9.3 per cent potential downside.
Axis Bank fell to Rs 1,256.40, down 5.43 per cent, as healthy Q1 balance-sheet growth offset by continued margin pressure.
YES Bank Q1 results preview: Analysts expect double-digit NII and profit growth. Track NIM, asset quality, loan growth, deposits and key earnings estimates.
S&P said YES Bank will benefit from extraordinary support from the Sumitomo Mitsui Banking Corp. (SMBC) group, given its belief that the latter is a moderately strategically important affiliate of SMBC.
Axis Bank, Apollo Tyres, Birlasoft, Hindalco Industries Ltd, JSW Cement Ltd, JK Cement Ltd, Mahindra Logistics Ltd and Nestle India Ltd are among over a dozen stocks, which will turn ex-date for dividend today.
HDFC Bank, ICICI Bank, Axis Bank: Nomura suggested targets of Rs 950 for HDFC Bank, Rs 1,620 on ICICI Bank and Rs 1,560 on Axis Bank, suggesting double digit gains.
Emkay said ICICI Bank remained the strongest bank, but leaves little upside at 2.4x book value. HDFC Bank and Axis Bank are relatively underpriced and have to deliver consistent growth to offer meaningful stock upside.
Anand Rathi shares its latest banking sector outlook with target prices for SBI, ICICI Bank, HDFC Bank, Bank of Baroda, YES Bank and other banking stocks.
YES Bank share price: YES Bank stock ended 3.59% lower at Rs 24.19 on Tuesday against the previous close of Rs 25.09. Market cap of the lender stood at Rs 75,922 crore.
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