SJVN Delivers Power-Packed Performance
Company reports exceptionally high plant load factor to become the most profitable public sector undertaking.
Company reports exceptionally high plant load factor to become the most profitable public sector undertaking.
PNB and Union Bank will be added to the MSCI Global Standard Indexes, while NMDC, GMR Airport, BHEL, PNB, and Union Bank will enter India standard indices
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.
Punjab National Bank’s Q2 net profit zoomed 327% YoY to ₹1,756 crore, which was the highest in the last 14 quarters.
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.
Men directors have been replaced with women directors on boards of 4 out of 7 public sector banks.
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.