Yes Bank shares fall; JPMorgan cuts to 'underweight'

Reuters Market Eye - Shares in Yes Bank Ltd fall as much as 6.7 percent after J.P.Morgan downgraded the stock to "underweight" from "overweight," saying absolute valuations "aren't that attractive in the context of slowing earnings."

Macro headwinds, elevated credit costs and challenges in Yes Bank's retail loan business and retail deposit base were other reasons for the downgrade, the investment bank said.

(indulal.p@thomsonreuters.com/indulal.p.thomsonreuters.com@reuters.net)