Yes Bank share price: Nirmal Bang maintains negative outlook and pegs the stock at Rs 13
Yes Bank reported an operational performance which was ahead of estimates on the back of better NIM, higher non-interest revenue and better cost control. However, these positives were more than offset by the surprise on the asset quality front. Yes bank has disclosed total stress (net of total provisions) of Rs 385.8 bn, which is 23% of the total advances and 104% of the current equity capital.
Nirmal Bang thinks that Yes Bank's disclosed stress levels are alarming in nature considering that the new management had guided for slippages of 7-9%: Reuters