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‘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.
‘Believing in Yes Bank’s business model was a mistake,’ says Macquarie analyst, downgrades stock

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