Yes Bank shares fall; JP Morgan cuts to 'underweight'

Written by Reuters | Updated: Apr 15 2014, 19:22pm hrs
Yes Bank LtdMacro headwinds, elevated credit costs and challenges in Yes Bank's retail loan business and retail deposit base were other reasons for the downgrade, the investment bank said. (AP)
Shares in Yes Bank Ltd fall as much as 6.7 per cent after JP Morgan downgraded the stock to "underweight" from "overweight," saying absolute valuations "aren't that attractive in the context of slowing earnings."

Macro headwinds, elevated credit costs and challenges in Yes Bank's retail loan business and retail deposit base were other reasons for the downgrade, the investment bank said.