YesBank, IndusIndBank plummet 6-9% after UBS cuts price target sharply

Yes Bank shares plunged 9 percent and IndusIndBank tanked 6 percent intraday on June 13 after global brokerage house UBS slashed price target sharply by 47 percent and 18 percent, respectively, citing weak earnings going ahead.

UBS downgraded IndusInd Bank to sell and cut target to Rs 1,400 from Rs 1,700 earlier while in case of Yes Bank, the brokerage maintained sell rating and slashed target to Rs 90 from Rs 170 apiece.

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Posted in: Indian Market Tips