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PNB Plunges 3%; BSE BANKEX Index Down 1.3%
Fri, 25 Oct 12:29

PNB Plunges 3%; BSE BANKEX Index Down 1.3%Image source: DNY59/www.istockphoto.com

PNB share price has plunged 3% and is presently trading at Rs 95.9.

Meanwhile, the BSE BANKEX index is at 57,736.6 (down 1.3%).

Among the top losers in the BSE BANKEX index today are Indusind Bank (down 19.3%) and AU SMALL FINANCE BANK (down 5.4%).

Axis Bank (up 0.5%) and Kotak Bank (up 0.2%) are among the top gainers today.

Over the last one year, PNB has moved up from Rs 69.7 to Rs 95.9, registering a gain of Rs 26.2 (up 37.5%).

On the other hand, the BSE BANKEX index has moved up from 48,512.5 to 57,736.6, registering a gain of 19.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.4%), ICICI Bank (up 34.1%) and Federal Bank (up 30.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,329.7 (down 0.9%).

The top losers among the BSE Sensex today are Indusind Bank (down 19.3%) and M&M (down 4.6%). The most traded stocks in the BSE Sensex are Tata Steel and Indusind Bank.

In the meantime, NSE Nifty is at 24,101.5 (down 1.2%). Indusind Bank and M&M are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 79,329.7, registering a gain of 14,757.8 points (up 22.9%).

PNB Financial Update...

PNB net profit grew 206.9% YoY to Rs 37,162 million for the quarter ended June 2024, compared to a profit of Rs 12,108 million a year ago. Net sales rose 13.5% to Rs 291,445 million during the period as against Rs 256,729 million in April-June 2023.

For the year ended March 2024, PNB reported 172.0% increase in net profit to Rs 91,072 million compared to net profit of Rs 33,485 million during FY23. Revenue of the company grew 25.6% to Rs 1,090,646 million during FY24.

The current Price to earnings ratio of PNB, based on rolling 12 month earnings, stands at 10.2.

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