Yes Bank saw a slew of downgrades after reporting it’s first ever quarterly loss. Macquarie slapped a double downgrade on the stock, scaling it down to 'underperform' and  slashing its target price by 40% to Rs 165 - one of the lowest  targets.Besides Macquarie, other brokerages such as BoB Capital and Emkay Global have also downgraded the stock. Morgan Stanley has the lowest target price on the Street on YES Bank at Rs 125. 

Yes Bank saw a slew of downgrades after reporting it’s first ever quarterly loss. Macquarie slapped a double downgrade on the stock, scaling it down to 'underperform' and slashing its target price by 40% to Rs 165 - one of the lowest targets.Besides Macquarie, other brokerages such as BoB Capital and Emkay Global have also downgraded the stock. Morgan Stanley has the lowest target price on the Street on YES Bank at Rs 125.

The government has permitted foreign direct investment of up to 74% under the automatic route in the defence sector.
However, foreign investments in the defence sector would be subject to scrutiny on the grounds of national security, the Department for Promotion of Industry and Internal Trade said in the note.
As per the current FDI policy, 100% overseas investments are permitted in the defence industry -- 49% under the automatic route, while beyond that government approval was required.

US-based Rosen Law Firm and Schall Law Firm have filed class-action suits against&nbsp;HDFC Bank&nbsp;alleging misleading public statements and for failing to inform investors about the bank's improper internal controls on vehicle loans.
The lawsuits named outgoing-MD&nbsp;Aditya Puri, CEO&nbsp;Sashidhar Jagdishan, and company secretary Santosh Haldankar.
Rosen Law filed the suit on behalf of investors who purchased&nbsp;HDFC Bank&nbsp;equity between July 31, 2019 and July 10, 2020.

Apple has announced that it will launch its first online store in India on September 23. The upcoming online store will offer Apple&rsquo;s full range of products and support directly to customers and comes over 20 years since it began operations in the country.
The company, which currently relies on third-party online and offline retailers to sell its products in India, said its online store will also offer buyers the ability to custom configure any Mac before purchasing. Apple also announced special pricing for students, financing options and an available trade-in program.

Equity benchmarks opened with mild gains on Friday led by pharma&nbsp;stocks.
At 9:30 am, the Sensex was 92 points in the green at 39,072 and the Nifty gained 0.35% to trade at 11,556.
Cipla, DrReddy, Sun Pharma, Hindalco&nbsp;and Hero Moto&nbsp;Corp were the top gainers.

The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank's chief economist Carmen Reinhart said on Thursday.
Reinhart said the pandemic-caused recession will last longer in some countries than in others and will exacerbate inequalities as the poorest will be harder hit by the crisis in rich countries and the poorest countries will be harder hit than richer countries.
For the first time in twenty years, global poverty rates will rise following the crisis, she added.

Niti Aayog CEO Amitabh Kant said on Thursday that&nbsp;privatisation&nbsp;of the railways will create a win-win situation for both the Indian railways as well as the investors and also the users.&nbsp;Addressing a joint press meet, along with Railway Board chairman VK Yadav, he said it is like when private banks were set up in India, so many private players came in the banking sector, but&nbsp;that didn&rsquo;t lead SBI to shut.&nbsp;He said private investment will bring in newer technologies&nbsp;and&nbsp;will create competition in the railway sector&nbsp;which will lead to&nbsp;reduction in&nbsp;fare &mdash; in the long run.&nbsp;&nbsp;

Automakers should lower costs, cut royalty payouts to foreign parents and improve efficiency to decrease the cost rather than expect the government to reduce tax rates, said a senior finance ministry official.
The official rejected the suggestions from industry players Maruti Suzuki and Toyota&nbsp;Motor pointing to the tax structure on automobiles as a demand dampener, the Mint reported.
This comes days after some reports said that Toyota would halt expansion in the country due to high taxes.

Equity markets dived down to end in the red on Thursday&nbsp;amid weekly expiry as the street witnessed heavy selling in metal and banking stocks. Weak European and Asian peers also influenced investors' sentiment.
The Sensex&nbsp;closed at 38,979 after losing 323 points and the Nifty fell 0.74% to end near 11,500.
Hindalco, Tata&nbsp;Motors, Shree&nbsp;Cements, Bajaj&nbsp;Finserv and Adani&nbsp;Ports were the top losers.
In the currency markets, the local unit depreciated 14 paise to settle at 73.66 against the greenback.

Finance Minister Nirmala Sitharaman on Wednesday said amendments to the banking regulation law are aimed at improving their governance and protecting depositors' money.
Responding to Congress' opposition to the ordinance,&nbsp;Sitharaman said the government was compelled to come out with an ordinance during the lockdown period as the condition of the cooperative banks was 'grave'.
Due to the pandemic, the stress in cooperative banks increased and the gross NPA ratio increased from 7.27% in March 2019 to over 10% in March 2020, she mentioned.

Life Insurance Corporation (LIC) of India, which is preparing for its IPO&nbsp;despite volatility in the stock market, has already made a profit of ₹13,000 crore from its equity portfolio till August this year, a top official said.
The insurer has collected about ₹87,300 crore of renewable premium till August this year, registering a growth of 13.5% over the same period of the last fiscal.
In the 2020-21 budget, Finance Minister Nirmala Sitharaman had announced the government's plan to sell a part of its holding in LIC&nbsp;by way of Initial Public Offer.

US President Donald Trump on Wednesday said he wasn't ready to approve the Oracle-TikTok deal, which would allow the Chinese video app to continue operating in the United States, news agency AFP has reported. Trump has said that it has to be a 100% takeover by the US tech giant of the ByteDance platform, insisting he needs to see the deal before approving it. The US President is also opposed to an arrangement reported by media in which ByteDance would keep a majority stake in the company and Oracle a minority stake.

Equity markets opened lower on Thursday led by banking stocks and weak Asian cues.
At 9:20 am, the Sensex was at 39,128 down 174 points and the Nifty was trading 0.40% lower at 11,558.
Hindalco, ICICI&nbsp;Bank, Bajaj&nbsp;Auto, TCS and HDFC&nbsp;Bank were the top losers.

PTI, Mumbai: Total tax collection of the Centre, including advance tax collection for the second quarter, fell 22.5% to ₹2,53,532.3 crore till September 15 of the current fiscal as compared to the year-ago period, according to an income tax department source.
The source shared some details about the provisional data.
During the same period ended September 15, 2019, total tax collection stood at ₹3,27,320.2 crore, the income tax department source from Mumbai zone told PTI over phone on Wednesday.
However, the source refused to share the advance tax numbers separately for the current quarter.
The numbers are provisional as banks will be able to update the final data by the end of the day, the source said.
During the first quarter ended June, gross tax collections fell 31% driven down by a massive 76% plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.

Owing to a strong rally in pharma and auto stocks, equity benchmarks posted healthy gains in the Wednesday session.
The Sensex&nbsp;jumped 258 points to 39,302 and the Nifty surged 0.72% to end above 11,600.
DrReddy, M&amp;M, Hindalco, Bajaj&nbsp;Auto and Britannia were the top Nifty gainers.
The rupee strengthened by 12 paise and settled at 73.52 against the US dollar.

Indian airlines' revenue fell by 85.7% year-on-year to ₹3,651 crore during the first quarter of FY21 due to&nbsp;Covid-19, said Civil Aviation Minister Hardeep Singh Puri on Wednesday.
Moreover, employee count at the Indian carriers went down from 74,887 on March 31 to 69,589 on July 31, Puri&nbsp;stated in Rajya&nbsp;Sabha.
The revenue of airport operators has reduced from ₹5,745 crore during April-June 2019 to ₹894 crore during April-June 2020, he said.
Scheduled domestic flight services were suspended in India from March 25 to May 24 due to the&nbsp;coronavirus-triggered lockdown.

RBI bank governor Shaktikanta&nbsp;Das&nbsp;on Wednesday said that economic indicators are pointing to some stabilisation in the second quarter of the current fiscal year.
Speaking at a FICCI&nbsp;event, the RBI&nbsp;governor said that recovery is likely to be gradual as efforts towards reopening of the economy are confronted with rising infections.
The RBI is battle ready and whatever measures are required will be taken&nbsp;to help the industry and businesses to come out of the Covid-19-induced crisis, he assured.
Global economy estimated to have suffered the sharpest contraction in living memory in the June quarter, Das&nbsp;said adding that&nbsp;a subsequent recovery is underway in several economies such as USA, UK, Euro area and Russia.

Calling it 'illegal', the World Trade Organization on Tuesday said that the United States had breached global trading rules by imposing heavy tariffs in President Donald Trump's trade war with China.
Washington showed disapproval saying that&nbsp;tariffs it imposed two years ago on more than $200 billion in Chinese goods were justified because China was forcing companies to transfer technology and intellectual property.&nbsp;
This is the first time that the Geneva-based trade body has ruled against a series of high-profile tariffs that President Donald Trump's government has imposed on a number of countries.

Contracting for the sixth straight month, India's exports slipped 12.66% year-on-year to $22.7 billion in August, as per the government data released on Tuesday. This was worse than 10.21%contraction in July and 12.41% in June.
Imports too declined 26% to $29.47 billion in August, leaving a trade deficit of $6.77 billion, compared to a shortfall of $13.86 billion in the same month last year. The deficit was $4.83 billion in July.
Major export commodities that have recorded negative growth during August include petroleum products (-40%), gems and jewellery (-43.28%), leather (-16.82%), etc. Sectors with positive growth during the month include rice, coffee, tobacco, iron ore, oil seeds, oil meals, meat, dairy, pharmaceuticals, and plastic.

Toyota&nbsp;Motor said it remains committed to the Indian market and its local unit announced an investment of more than&nbsp;₹2,000 crore.
This followed a&nbsp;Bloomberg&nbsp;report on Tuesday that said the company won&rsquo;t expand further in India due to high taxes.
The Japanese auto giant in a statement said that the future of sustainable mobility is strong in India and Toyota is proud to be part of this journey. The company also announced to invest&nbsp;over ₹2,000&nbsp;crore towards the electrification of vehicles.

Indian markets opened on a flat note on Wednesday following mixed Asian peers.
At 9:20 am, the Sensex was 34 points in the green at 39,079 and the Nifty was trading above 11,500 level.
Tata Motors, M&amp;M, Bajaj&nbsp;Auto, Britannia and BPCL&nbsp;were the top five Nifty gainers. Whereas&nbsp;UPL, Axis Bank, IndusInd&nbsp;Bank, Wipro&nbsp;and SBI&nbsp;were the top losers.

editorji

follow us

download editorji app

home > business > Yes Bank faces a slew of downgrades, price targets slashed on stock

replay trump newslist

up NEXT IN 5 SECONDS sports newslist

NaN/0

Yes Bank faces a slew of downgrades, price targets slashed on stock

Apr 30, 2019 10:17 IST

share this news

explore newslists

International

Lifestyle

Hollywood

Sports

Viral

Tech

National

Showbiz

Travel

Local

Business

Sep 18, 2020 12:00 IST

Sep 18, 2020 12:00 IST

Sep 18, 2020 11:50 IST

Sep 18, 2020 11:10 IST

Sep 18, 2020 07:04 IST

Sep 18, 2020 07:11 IST

Sep 18, 2020 07:04 IST

Sep 18, 2020 08:40 IST

Sep 18, 2020 07:04 IST

Sep 18, 2020 07:04 IST

Sep 18, 2020 07:03 IST

Sep 17, 2020 15:30 IST

Sep 17, 2020 07:18 IST

Sep 17, 2020 08:50 IST

Sep 18, 2020 07:04 IST

Sep 17, 2020 07:18 IST

Sep 18, 2020 07:03 IST

Sep 17, 2020 07:18 IST

Sep 17, 2020 07:18 IST

Sep 16, 2020 15:30 IST

follow editorji

download editorji

editorji

About Us

Reach us

Navigate

home
> business
> Yes Bank faces a slew of downgrades, price targets slashed on stock