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:

Reuters Showcase

HCL Technologies

HCL Technologies

Software services exporter posts 28 pct rise in Q2 profit  Full Article 

Google Revenue

Google Revenue

Fourth-qtr revenue misses Wall Street target  Full Article 

Uber's Woes

Uber's Woes

Uber, other taxi-hailing apps hit new roadblock in Delhi.  Full Article 

Transfer Pricing

Transfer Pricing

India's Vodafone decision eases tax worries for Shell, others.  Full Article 

Renewable Energy

Renewable Energy

NTPC bars foreign bids for three solar projects  Full Article 

Reuters India Mobile

Reuters India Mobile

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