Punjab & Sind Bank Share Price – NSE  /  BSE

Banks, Small Cap

Arnab Goswamy is a qualified Chartered Accountant and Cost Accountant. He has worked at Indusind Bank, and ICICI Bank. Prior to joining Punjab & Sind Bank, he was associated with Bandhan Bank as vice president.

In a career spanning over two decades, he has vast experience in the banking sector across finance and accounting, banking operations, MIS and financial analysis, reconciliation, system and process management, regulatory reporting, treasury operations, credit underwriting, stress asset management, it transformation, corporate and retail banking, business planning and budgeting, internal audit, compliance key accounts management and team management.

Punjab and Sind Bank is a leading public sector bank and a major bank in northern India. The bank provides customer service through innovative products and services for different customer segments. The bank has total 1,561 branches and 937 ATM’s

The bank’s standalone net profit fell by 69.4% to Rs 114.31 crore in Q3 FY24 as compared to Rs 373.24 crore recorded in Q3 FY23. Total income grew by 27.1% YoY Rs 2,852.71 crore in the quarter ended 31 December 2023.

The scrip rose 1.34% to settle at Rs 64.15 on Wednesday, 3 April 2024.

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Punjab & Sind Bank fell for a fifth straight session today. The stock is quoting at Rs 56.5, down 6.84% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.08% on the day, quoting at 22093.65. The Sensex is at 72980.39, down 0.93%.Punjab & Sind Bank has eased around 13.61% in last one month.Meanwhile, Nifty PSU Bank index of which Punjab & Sind Bank is a constituent, has eased around 1.66% in last one month and is currently quoting at 7039, down 3.13% on the day. The volume in the stock stood at 34.02 lakh shares today, compared to the daily average of 38.26 lakh shares in last one month.

The PE of the stock is 44.9 based on TTM earnings ending December 23.

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In a regulatory filing, the bank said that its board has given green light “to raise capital up to an amount and aggregating to Rs 2,000 crore in any combinations thereof and in one or more tranches within a period of 12 months from the date of approval.”

The public lender will raise funds via equity shares through public issue (follow on public offer), right issue, qualified institutional placements, preferential issues or any other mode or or combinations thereof.

Further, the bank will raise the amount through bonds in the form of basel III compliant additional tier I bonds / basel III compliant tier II bonds.

Punjab and Sind Bank is a leading public sector bank and a major bank in northern India. The bank provides customer service through innovative products and services for different customer segments. The bank has total 1,561 branches and 937 ATM’s

The bank’s standlone net profit fell by 69.4% to Rs 114.31 crore in Q3 FY24 as compared to Rs 373.24 crore recorded in Q3 FY23. Total income grew by 27.1% YoY Rs 2,852.71 crore in the quarter ended 31 December 2023.

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Punjab & Sind Bank will hold a meeting of the Board of Directors of the Company on 28 February 2024.

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