HSBC likely to sell stake in Axis Bank and Yes Bank
UK-based HSBC is likely to sell stake in private sector lenders Axis Bank and Yes Bank as part of its global strategy and is understood to have appointed merchant bankers for the deals.
UBS downgraded Axis Bank to ``neutral'' from ``buy'', citing ``increasing'' quality risks, ``muted'' earnings growth and a 28 per cent share price increase in the Indian lender so far this year.