Yes Bank, IndusInd Bank shares fall on downgrades by UBS

Shares of Yes Bank and IndusInd Bank led falls in their share price during Thursdays mid-morning session after foreign brokerage UBS downgraded views.

YesBank share hit to hit its 52-week low with share price at Rs120.70 in the very morning session on the NSE. The stock came under stress after UBS retained its SELL rating and reduced its target price (TP) to Rs.90-apiece from Rs.170 earlier. The stock was trading 10.61% down at Rs.120.45 at around 11.20 am on the NSE.

Similarly, shares of IndusInd Bank also slipped over 6.5% in morning session on Thursday after UBS downgraded the stock to SELL from NEUTRAL with a revised TP of Rs1400  From Rs1700 earlier. 

The stock was trading 6.55% down at Rs1467 at the same on the NSE, while the benchmark Nifty50 was trading 63.85 points at 11,840 and the Sensex down by 222points at 39531-level.

Meantime, the Nifty Private Bank index was down by 1.15% at or 199 points at 17,101.80 with YesBank, IndusInd Bank, IDFC FirstBank, RBL Bank ICICI bank and HDFC Bank were top index losers.