![Why are PNB shares rising for 4 sessions?](https://images.assettype.com/fortuneindia%2F2022-04%2F3b16d50a-ace9-4e56-b806-cc57607a032e%2FPNB_Bank_05053_copy.jpg?rect=0,0,2160,1080&w=300&q=95)
Why are PNB shares rising for 4 sessions?
The PSU lender has risen over 12% in the last four sessions, touching its fresh 52-week high of ₹110.95 in intraday trade today.
The PSU lender has risen over 12% in the last four sessions, touching its fresh 52-week high of ₹110.95 in intraday trade today.
The market cap of PNB crossed ₹1.01 lakh crore today after the shares of the PSU lender rose 2.1% to hit a fresh 52-week high of ₹91.81 intraday.
REC and PNB will co-finance loans worth ₹55,000 crore over the next three years to the power sector and infrastructure & logistics sector projects.
With limited new stress formation and system growth itself picking up, JP Morgan sees further scope of re-rating at PNB.