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Last Updated : Oct 05, 2015 04:50 PM IST | Source: CNBC-TV18

YES Bank may hit Rs 983: Mayuresh Joshi

Mayuresh Joshi of Angel Broking is of the view that YES Bank may hit Rs 983.

Mayuresh Joshi of Angel Broking told CNBC-TV18, "YES Bank is improving its liability profile and if you look at how the current account savings account (CASA) ratios are panning out, we have seen significant accretion happening on that front. When we talk about asset quality for YES Bank it is very stable asset quality. In absolute terms a little bit of blip but again if you look at the overall balance sheet size it is still very manageable. Again the counter cyclical provisions that YES Bank has been doing on its balance sheet is going to aid its balance sheet growth."

"Our own expectations are earnings growth in excess of 21 percent for YES Bank at a price to book multiple of close to two times FY17. The bank looks very decently poised for strong earnings recovery. Clearly we are looking at a target of Rs 983 over the next 12 months, he said.

First Published on Oct 5, 2015 04:45 pm
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