Moneycontrol
Jun 19, 2017 05:23 PM IST | Source: CNBC-TV18

Buy Yes Bank at around Rs 1250-1300: Abhimanyu Sofat

According to Abhimanyu Sofat of IIFL, one may buy Yes Bank at around Rs 1250-1300.

Abhimanyu Sofat of IIFL told CNBC-TV18, "In case of Yes Bank the growth will continue to be pretty robust at more than 30 percent going forward. So, despite the concern from the RBI list which had come at the end of quarter as well as market expectations about NPAs, frankly speaking we have not seen too much of numbers coming with that regard. So, from a growth perspective Yes Bank if you are able to get somewhere close to around Rs 1250-1300, that is a pretty good price to enter."

"Today when you are getting all these NBFC companies at a price to book multiple of 10x-15x based on FY17, I think it is time to be a bit cautious on that particular segment and focus more on the private sector banks because the risk reward is clearly more favourable on that side relative to some of these NBFCs," he said.

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