Buy Yes Bank; target of Rs 360: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Yes Bank

Probability of MTM hit due to Fortis stake  sale:  Yes Bank had acquired 8,97,81,906  equity shares (Face value of Rs 10 per share)  of Fortis Healthcare (FHL) on 16 April  2018, pursuant to invocation of pledge due  to a default by promoters in the credit facility  provided by the bank. Consequently, Yes  Bank became the biggest shareholder of  Fortis Healthcare (FHL) with a 17.31% stake  in India’s second-largest hospital chain.

Outlook
The stock of Yes Bank is currently trading at ~2.4x its FY2019E BV, which we believe is reasonable. Notwithstanding the strong overall performance and positive outlook, we believe that near term niggle of higher provisions can be an overhang on the  stock performance. We maintain our rating to Buy, with a revised price target (PT) of Rs 360.
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