Stock market analyst Ashwani Gujral has maintained 'Buy' rating on Punjab National Bank (PNB) to achieve a short term target of Rs 900.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 815.

Today, the shares of the bank opened at Rs 846 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 898.70 and a low of Rs 286.20 on BSE. Current EPS and P/E of the stock stood at 115.14 & 7.40 respectively.

India's second-biggest state-owned lender Punjab National Bank (PNB) has posted a growth of 31.1% in its net profit at Rs 927 crore during the second quarter ended September 30, 2009.

The increase in profit is fuelled by higher interest and treasury income.

The bank stated that the increase in profit took place after making provisions for revised wages. Net interest income of the bank surged 22.4%, whereas net non-performing assets declined to
0.14%.

Punjab National Bank (on Oct 29) declared that its directors have sanctioned taking of 63.64 per cent equity stake in Dana Bank, Kazakhstan subject to regulatory approvals. The bank's Capital Adequacy Ratio stood at 14.74%, whereas the net interest margin dropped to 3.64 per cent from 3.74% last year.