Punjab National Bank Share Price – NSE  /  BSE

Banks, Mid Cap

On quarter on quarter (QoQ) basis, the deposits rose 1.9% in the March quarter from Rs 9,67,256 crore as of 31 December 2023.

The public sector bank reported a 7% growth in total deposits to Rs 13,70,301 crore as of 31 March 2024 as against Rs 12,81,163 crore as of 31 March 2023 and 3.5% increase from Rs 13,23,485 crore as of 31 December 2023.

As on 31 March 2024, domestic deposits was at Rs 13,33,960 crore (up 6.6% YoY and up 3.5% QoQ) while domestic advances stood at Rs 9,44,975 crore (up 11.2% YoY and up 1.6% QoQ).

The bank's total business grew by 8.8% to Rs 23,56,288 crore as of 31 March 2024 over Rs 21,65,844 crore as of 31 March 2023 and 2.9% rise from Rs 22,90,742 crore as of 31 December 2023.

CASA deposits stood at Rs 5,51,891 crore as on 31 March 2024, registering a growth of 2.6% YoY and 0.8% QoQ.

Punjab National Bank is engaged in the business of treasury, corporate/wholesale banking, retail banking, other banking operations. As on 31 December 2023, Government of India held 73.15% take in the bank.

The bank's standalone net profit stood at Rs 1,756.13 crore in Q2 FY24, steeply higher from Rs 411.27 crore in Q2 FY23. Total income increased 27.75% year on year (YoY) to Rs 29,383.20 crore in the quarter ended 30 September 2023.

The scrip added 1.04% to settle at Rs 136.50 on Friday, 05 April 2024.

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Punjab National Bank is up for a fifth straight session today. The stock is quoting at Rs 135.4, up 0.18% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.15% on the day, quoting at 22467.75. The Sensex is at 74089.06, up 0.29%. Punjab National Bank has gained around 4.39% in last one month.

Meanwhile, Nifty Bank index of which Punjab National Bank is a constituent, has gained around 0.96% in last one month and is currently quoting at 47624.25, up 0.86% on the day. The volume in the stock stood at 607.15 lakh shares today, compared to the daily average of 477 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 135.65, down 0.18% on the day. Punjab National Bank is up 189.94% in last one year as compared to a 27.97% jump in NIFTY and a 17.16% jump in the Nifty Bank index.

The PE of the stock is 21.4 based on TTM earnings ending December 23.

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The bank will raise Rs 10,000 crore through Basel Ill Compliant Bonds (additional Tier-I bonds up to Rs 7,000 crore and Tier- II bonds up to Rs 3,000 crore), to be raised in one or more tranches during FY 2024-25.

On 22 March 2024, the bank has issued and allotted Basel III Compliant Additional Tier-I Bonds at a coupon of 8.47% p.a. aggregating to Rs 1,859 crore on private placement basis.

Earlier in March, the bank in its extraordinary general meeting (EGM) has approved raising equity capital aggregating upto Rs 7,500 crore (including share premium) in one or more tranches during FY 2024-25 through qualified institutions placement (QIP)/follow-on public offer (FPO) or any other permitted mode.

Punjab National Bank is engaged in the business of treasury, corporate/wholesale banking, retail banking, other banking operations. As on 30 June 2023, Government of India held 73.15% take in the bank.

The bank's standalone net profit stood at Rs 1,756.13 crore in Q2 FY24, steeply higher from Rs 411.27 crore in Q2 FY23. Total income increased 27.75% year on year (YoY) to Rs 29,383.20 crore in the quarter ended 30 September 2023.

The scrip rose 1.30% to ends at Rs 124.35 on Thursday, 28 March 2024. The domestic market is closed today, on account of Good Friday.

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Punjab National Bank gained for a fifth straight session today. The stock is quoting at Rs 124.15, up 0.16% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.7% on the day, quoting at 22159.1. The Sensex is at 73013.93, up 0.75%. Punjab National Bank has gained around 2.82% in last one month.

Meanwhile, Nifty Bank index of which Punjab National Bank is a constituent, has gained around 1.76% in last one month and is currently quoting at 46600.2, up 0.36% on the day. The volume in the stock stood at 172.26 lakh shares today, compared to the daily average of 625.42 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 124.6, up 0.24% on the day. Punjab National Bank is up 176.5% in last one year as compared to a 30.72% jump in NIFTY and a 18.2% jump in the Nifty Bank index.

The PE of the stock is 21.35 based on TTM earnings ending December 23.

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