MARKET EYE-India's Yes Bank shares gain; Nomura raises to 'Buy'

Mon Jan 28, 2013 2:12pm IST

Related Topics

Stocks

   

* Shares in India's Yes Bank Ltd gain 2.7 percent
after Nomura upgraded the stock to "buy" from "neutral" and
raised its target price to 615 rupees from 425 rupees.
* Nomura says Yes Bank was granted 146 new branch licenses by
the RBI, which should improve returns on assets (ROA).
* These licenses should be implemented over the next 18 months,
and improve the bank's current and savings account (CASA) ratios
to 26 percent for fiscal 2015 from 18.3 percent as of the third
quarter of fiscal 2013, Nomura estimates.
* Net interest margins should improve to 3.45 percent by fiscal
2015 from 2.95 percent in fiscal 2013, driving a 15-20 bps ROA
improvement, Nomura says.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage