Yes Bank Drops From India's Top 10 Most Valued Lenders

Two of the directors have recently resigned due to personal reasons
Yes Bank stock dropped by as much as 12.74 percent to a four-year low of approximately 1117.50 on BSE
Yes Bank was substituted by Bank of India with a market cap of 27740.85 crores in the top 10

Yes Bank Ltd. has lost its position in India’s list of ten most valued lenders in terms of market capitalization after the brokerage firm UBS India cut its target price by more than 47 percent.

Yes bank Ltd stock BSE forecast (source: walletinvestor)

On BSE, Yes Bank inventory dropped as much as 12.74 percent to reach somewhere on October 17, 2014, a level last seen. So far this year, the script has fallen 34 percent, underperforming the Sensex benchmark that rose 11 percent over the period.

UBS India retained its inventory sales ranking and reduced its target price to approximately 90 per share of approximately 170 previously, citing weak income. UBS expects loan price of 255/200 basis points in fiscal 2020-21, greater than the 125 bps instruction of the Yes Bank management.

HDFC Bank Ltd is currently the most valued bank in the country with a market cap of approximately 6.61 trillion

followed by the Indian State Bank at some 3.05 trillion. Next comes Kotak Mahindra Bank at $2.84 trillion, and ICICI Bank Ltd with a market cap of $2.69 trillion followed by Axis Bank at $2.14 trillion, IndusInd Bank at $87540.37, Bandhan Bank at $664808.74, Bank of Baroda at $40419.84, and Punjab National Bank at $34092.97.

The Yes Bank inventory has a total of 20 brokerages selling scores as of today compared to seven at the beginning of the year. According to Bloomberg information, the number of brokerages with purchase scores also fell from 28 in the same period to 16.

Yes Bank Share Price-source-finception

Moody’s put the Ba1 foreign currency issuer ranking of the lender under evaluation for a downgrade on Wednesday. The U.S. credit rating agency said the evaluation takes into consideration continuing liquidity pressures on Indian finance firms, which may adversely affect Yes Bank’s loan profile due to its significant exposure to the sector’s fragile firms.

The Exit of Two Yes Bank Board Managers:

Two of Yes Bank’s managers have recently resigned on private grounds. Non-executive director Ajai Kumar and non-executive independent director Mukesh Sabharwal walked out of the board of the bank.