
PNB sells entire stake in ARCIL to Avenue India Resurgence
The PSU lender has sold its entire 10.01% stake in the asset reconstruction company in a cash transaction.
The PSU lender has sold its entire 10.01% stake in the asset reconstruction company in a cash transaction.
With limited new stress formation and system growth itself picking up, JP Morgan sees further scope of re-rating at PNB.
Shares of Punjab National Bank hit a 52-week high after the government approved the divestment of its entire stake in UTI Asset Management Company.
PNB shares hit a 52-week low after its profit dropped 66% YoY to ₹201 crore due to higher provisions for bad loans and contingencies.
State Bank of India has acquired a 7.84% stake in Open Network for Digital Commerce (ONDC) for consideration of ₹10 crore.
The report from PNB comes a month after Punjab & Sind Bank reported a borrowing fraud worth ₹148.867 crore in the NPA account of ITNPCL.
The revival of Jet Airways hinges on a series of legal hurdles, but also negotiations between the government and the consortium on multiple issues.
Carlyle-Puri move to invest ₹4,000 crore in PNB Housing Finance will await the outcome of a legal scrutiny by the Securities Appellate Tribunal.
The merger and asset quality overhang may have kept its growth tepid, but it posted a higher-than-expected net profit of ₹506 crore in the third quarter.
The third IPO from India’s mutual fund industry is worth ₹2,160 crore.