Yes Bank tumbles 8% after stake allotment to PE majors
Global brokerage Morgan Stanley has initiated coverage on Yes Bank with an underweight rating and a target price of Rs 20.50. The Return on Asset (ROA) recovery beyond 1% will be gradual, said the foreign broker. The global investment bank expects strong RoA improvement to 1% by FY25, which will be helped by higher PPOP margins/lower credit costs, it said.
