Sell YES Bank, PNB shares; buy HDFC Bank, ICICI Bank stocks, says Goldman Sachs

Goldman Sachs has begun its assessment of fourteen Indian banks, pinpointing its top selections. ICICI Bank and Kotak Mahindra Bank stand out with Buy ratings that indicate substantial upside potential. The firm anticipates a cyclical recovery in earnings across the banking…

Goldman Sachs has initiated coverage on YES Bank with a 'Sell' rating and a target of Rs 22, implying a 3.3 per cent downside from the prevailing level. It initiated coverage on Punjab National Bank (PNB) with a 'Sell' call.