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Yes Bank shares to rise over next 30 days: Morgan Stanley

Source : REUTERS
Last Updated: Tue, Apr 02, 2013 05:54 hrs
Investors watch a display at a local share market in the northern Indian city of Chandigarh

Shares in Yes Bank gain 2.2 percent after Morgan Stanley said in a note that share price would rise relative to the country index over the next 30 days, citing improving liquidity conditions in the banking system and valuations, dealers say.

The investment bank said, "We expect wholesale funding institutions to do well, as funding costs reduce to Oct-Dec 2012 levels."

Morgan Stanley adds valuations for Yes Bank at 10 times FY14 earnings and 1.9 times book value are attractive and below historical average levels, providing a margin of safety, in its view.

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