Nifty holds 8800 amid consolidation Hindalco, Yes Bank rally

CLSA says the bank’s performance has been improving but cut earnings estimates due to subsidiaries’ performance.
Asset-quality pressure moderated with delinquency ratio at 3 percent and 35 percent CASA deposit growth due to demonetisation was a key positive, it says..

The brokerage house feels loan growth can improve from 5 percent YoY as bank gained from lending-rate cuts.
CLSA has retained buy call on the stock with target price at Rs 330.

Stock Market News Today-Sai Proficient
      Stock Market News Today-Sai Proficient

According to the research firm, slower-than-expected uptick in India’s economy growth is a key downside risk for the bank and credit risk in the corporate segment is another risk to estimates.

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