Goldman starts coverage of ING Vysya with 'buy'

Goldman Sachs started coverage of ING Vysya Bank with a "buy" rating and a price target of Rs 640. The investment bank said the lender has improved its profitability over the past five years and is on course to deliver a 16 basis point improvement in return-on-assets in fiscal years 2013-2016. Goldman said ING Vysya "is on a firm footing in the current tough macro environment" due to an estimated Tier I ratio of about 14.2 per c...