‘Believing in Yes Bank’s business model was a mistake,’ says Macquarie analyst, downgrades stock
Updated : April 29, 2019 03:55 PM IST
Macquarie double-downgrade Yes Bank to 'underperform' and cut its target price to Rs 165
The bank posted a loss of Rs 1,507 crore in the March quarter compared to a profit of Rs 1,180 crore a year earlier.
According to the brokerage, the loss was amplified by provisions against bad loans to Jet Airways and IL&FS slippages.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more