YES Bank climbs 4% after Tuesday's 29% slide; analysts cautious

NEW DELHI: Shares of YES Bank climbed 4 per cent in Thursday’s trade on the emergence of value buying on the counter following Tuesday’s steep 29 per cent slide. The scrip had settled at Rs 168 on Tuesday, which was close to the target of Rs 165 set by Macquarie after double-downgrading the stock. The stock exchanges were shut on Wednesday on account of Maharashtra Day. Untitled Carousel 69112487 69123441 At 10.15 am, the scrip was trading 4.08 per higher at Rs 174.85 on BSE. The scrip rose even as analysts remain cautious on the lender’s outlook.It is a stock which is now behaving more like an ADAG stock, said Sanjiv Bhasin of IIFL Securities.“I am amazed to see ‘A’ group stock falling 30 per cent in a day. It has unruffled a lot of feather. I would advise to stay away,” Bhasin told ET Now.ICICI Direct said it will be cautious on the bank for next 3-6 months as an upside risk to stressed book is probable. This brokerage has a target of Rs 180 on the stock.

from Economic Times http://bit.ly/2Lrotiy