BUSINESS

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BUSINESS

PNB crosses Rs. 1L crore in market value

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PNB market cap milestone

Punjab National Bank (PNB) surpassed a market cap of Rs. 1 lakh crore, joining the ranks of State Bank of India and Bank of Baroda.

2

Shares surge 60%

This achievement comes after a 60% increase in PNB's shares this year, with the stock price reaching a high of Rs. 92 apiece on December 15.

3

Stronger balance sheets

The bank's stronger balance sheets and improved asset quality contributed to its success, reporting a 327% rise in net profit at Rs. 1,756 crore for the July-September quarter.

4

Maintaining earnings momentum

Analysts expect PNB's growth and recoveries from older stressed assets to maintain earnings momentum.

5

Promising PSU sector

As per analysts, the entire PSU sector, including PNB, is promising and undervalued, with potential for more upside.