Macquarie raises target price on HDFC Bank by 27%

Maintaining a positive view on HDFC Bank, Macquarie has raised target price on the lender's sharesby 27 per cent to Rs 2,200.  "We are increasing our FY18E-20E earnings by 3-8 per cent, driven mainly by increasing loan CAGR from 19 per cent to 22 per cent. We increase our TP by 27 per cent to Rs 2200 mainly on account of increasing core business […]

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After HDFC Bank, Yes says no to 2,500 jobs after citing redundancy, poor performance and digitisation

Yes BankBSE -2.47 % has eliminated about 2,500 jobs — more than 10% of its workforce — citing increased redundancy, poor performance and the impact of digitisation.  The reduction in Yes Bank’s 21,000-strong workforce marks the second recent cut in India’s private-sector banking space. HDFC BankBSE -0.68 %, the country’s most valuable lender by market capitalisation, has trimmed its workforce […]

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