PNB

Indian Stock Market Remains Low While Global Markets Recover

Indian Stock Market Remains Low While Global Markets Recover

Indian stock market remained range-bound during the past week even as stocks managed to recover quite smartly across the globe. Indian market also remained low as public sector banks remained on investor’s selling list. PNB suffered the most during the recent banking scam involving Nirav Modi and Gitanjali Gems.

Dow Jones Industrial Average staged a smart recovery over the week. While the FED meeting led to decline in Dow Jones, the U.S. markets recovered a day after Federal Reserve meeting. Dow Jones looks strong at the moment and with minor correction that started in February, markets are looking forward to gain further in upcoming weeks.

PNB launches housing loans at 10.25%

Punjab National BankNew Delhi - To increase business in the festival season, Punjab National Bank (PNB) Tuesday said housing loan of up to Rs 2 crore will attract 10.25 percent interest rate and also announced full waiver of processing fee and documentation charges on housing, car and two-wheeler loans.

Under the festival season bonanza offer for retail loans, housing loans of over Rs two crore will attract interest of 10.50 percent.

The festival bonanza, launched today, would contribute to the growth of GDP and with the onset of festival season, PNB said in a statement.

PNB Q1 net rises 10% to Rs 1,405 crore

Punjab National BankNew Delhi: State-owned Punjab National Bank (PNB) on Friday reported 10 percent growth in net profit to Rs 1,405.12 crore for the April-June quarter of 2014-15.

In the year-ago period, the bank had reported a net profit of Rs 1,275.32 crore, PNB said in a regulatory filing to the stock exchanges.

The bank's total income increased to Rs 12,825.13 crore during the first quarter ended June 30 from Rs 11,746.59 crore in the same period last year.

'SBI, PNB likely to tap capital market this year'

G-S-SandhuNew Delhi: Public sector SBI and PNB could be among the first banks to tap capital market this financial year to raise funds to meet global risk norms Basel III, a top finance ministry official said here Friday.

Financial Services Secretary G S Sandhu also said no final decision has been taken yet.

"Which banks will go first, that we have to work out. We have asked all banks to submit their capital requirement plans. They have given their proposal and we are giving final touch to them. The schedule will be worked out soon," he added.

ICRA to assign ratings to PNB’s enterprise borrowers

ICRA to assign ratings to PNB’s enterprise borrowersCredit rating agency ICRA Ltd has signed a memorandum of understanding (MoU) with Punjab National Bank (PNB) for assigning ratings to the state-run bank's enterprise borrowers.

Under the terms of the MoU, ICRA will assign ratings to PNB's small scale industries and small & medium enterprise borrowers.  The small enterprises/small scale industries ratings will be conducted under the National Small Industries Corp-ICRA performance and credit rating scheme for small scale industries.

PNB seeks fund support of Rs 1,500 crore from government

PNB seeks fund support of Rs 1,500 crore from governmentPunjab National Bank (PNB) on Friday announced that it had requested the government to provide it with a fund support of Rs 1,500 crore to help it improve its capital base.

The government-run lender announced the move after reporting a year-on-year increase of 2.4 per cent in net profit for the first quarter of current fiscal.

K R Kamath, chairman & managing director of PNB, said, "We have approached the government and sought Rs. 1,500 crore in the current fiscal."

PNB net profit falls 21%

PNB net profit falls 21%One of India's leading state-owned bank, Punjab National Bank (PNB) has recorded a fall of 20.6 per cent in tis net profit during the quarter from January to March, 2013.

Punjab National Bank Q4 net profit dips 20.6 percent

Punjab-National-BankNew Delhi, May 9 : Punjab National Bank's net profit dropped 20.6 percent during the fourth quarter (January to March) of fiscal 2012-13.

It posted net profit of Rs. 1,130.8 crore during the quarter compared to Rs. 1,424.06 crore for the quarter ended March 31, 2012.

Total Income increased from Rs. 10,964.50 crore for the quarter ended March 31, 2012 to Rs. 11,552.84 crore for the quarter ended March 31, 2013.

It posted a net profit of Rs. 4,747.67 crore for the year ended March 31, 2013 as compared to Rs. 4,884.20 crore for the year ended March 31, 2012.(IANS)

Three public-sector lenders hike retail term deposit interest rates

Three public-sector lenders hike retail term deposit interest ratesThree government-run lenders, viz. United Bank of India (UBI), Punjab National Bank (PNB) and UCO Bank, have recently hiked their respective interest rates on domestic term deposits.

CCI approves PNB’s 30% stake buy in MetLife India

CCI approves PNB’s 30% stake buy in MetLife IndiaPunjab National Bank (PNB) on Friday gained competition watchdog’s approval for its 30 per cent stake acquisition in MetLife India Insurance.

The Competition Commission of India (CCI) approved the transfer of 60 crore equity shares from MetLife to PNB, saying the businesses offered by MetLife and PNB were not similar and identical, and therefore would not hurt competition in the market.

Public sector banks express concerns over power NPAs

Public sector banks express concerns over power NPAsPublic sector banks, including the State Bank of India (SBI) and Punjab National Bank, have urged the Union Finance Ministry to help them prevent loans of nearly Rs 2.3 lakh crore to private sector power companies from turning bad.

The banks have urged Finance Minister P Chidambaram to covey their concerns over to power, coal, petroleum and environment ministers.

According to a Credit Suisse report, private companies' 36 thermal power projects involving a debt of more than Rs 2 lakh crore are now facing potential strain.

ICICI reports 30% surge in net profit; PNB suffers decline of 11.5%

ICICI reports 30% surge in net profit; PNB suffers decline of 11.5%Private sector lender ICICI Bank enjoyed a better-than-expected jump of 30 per cent in net profit to Rs 1,956 crore in the quarter ended September year-on-year.

Analysts had projected an increase of around 22 per cent in the bank's quarterly net profit. The bank attributed the better-than-expected net profit to its higher interest income, dividend income from subsidiaries, unwavering net interest margin and better cost management.

Tata Steel & Tata Motors Gain; Markets Rise 1.2 Per Cent

Tata Steel & Tata Motors Gain; Markets Rise 1.2 Per CentIndian Stock market went higher on Friday with NSE Nifty closing at 5099.85, gaining 56.85 points while BSE Sensex gained 199 points.

Tata Steel gained 3.9 per cent to close the day at Rs 399. Tata Motors gained 3.78% to close at 212. Sterlite Ind and HDFC Bank were among major gainers.

Stocks touching 52-week high include Ambuja Cements, Deccan Cements, Divis Labs, Marico, UltraTech Cement and Wockhardt.

Indian Stock Market Closes Lower; INR Faces Another Blow

Indian Stock Market Closes Lower; INR Faces Another BlowIndian stock markets ended the day lower with Automobile, Banking and Energy stocks facing selling pressure. Among gainers were select stocks in Capital Goods, Consumer Durables and Healthcare sectors.

Among top gainers were Ranbaxy Labs, Asian Paints, BPCL and Larsen. Among major losers were Bank of Baroda, PNB and SAIL. PNB also touched 52-week low in today's trading session.

PNB net profit rises 18 per cent in fourth quarter

PNB net profit rises 18 per cent in fourth quarterPunjab National Bank (PNB) has said that its net profit has risen 18 per cent in the fourth quarter till March 2012 to Rs 1,424 mainly due to increased interest and other incomes.

The net interest income of the bank, which is difference between interest earned and interest paid, rose increased 9.3 per cent to Rs 3,310 crore in the fourth quarter compared to the same quarter of the previous financial year.

PNB reports12.1 per cent rise in net profit

PNB reports12.1 per cent rise in net profitThe Punjab National Bank (PNB) has reported an increase of 12.1 per cent in net profits to Rs 1,205 crore for the second quarter of the year compared to Rs 1,074.5 crore in the same period previous year.

The country's largest nationalised lender saw an increase in interest income resulting in better than expected profits in the quarter. Net interest income for the bank rose 16 per cent to Rs 3,453 crore in the second quarter from Rs 2,977 crore in the same period last year.

PNB to Become PNB MetLife India

PNB to Become PNB MetLife IndiaPunjab National bank with its huge network constituting of 5, 290 branches along with a customer base of over 60 million credits to be the largest nationalized bank.

While commenting on a recent deal where PNB has agreed to pick up a 30% stake in MetLife India, the Chairman of Punjab national bank, K R Kamath, notified to reveal the commercial terms of the deal after receiving the regulatory approval and said that the agreement includes out-entry as a shareholder and also a deal where the bank will distribute products for the life insurance company.

Buy PNB With Target Of Rs 1425

Buy PNB With Target Of Rs 1425Stock market analyst Alpesh Furiya has maintained 'buy' rating on Punjab National Bank (PNB) stock with a target of Rs 1425.

According to analyst, the stock can be purchased with a stop loss of Rs1350.

Furiya added said that the investors can achieve the said target within a period of 15 days.

The stock of the company, on Nov 05, closed at Rs 1376 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1385 and a low of Rs 842.10 on BSE.

Current EPS & P/E ratio stood at 133.45 and 10.14 respectively.

Buy PNB With Target Of Rs 1340

Buy PNB With Target Of Rs 1340Sushil Finance is bullish on Punjab National Bank (PNB) and has recommended 'buy' rating on the stock with a target of Rs 1340 in its latest research report.

According to Sushil Finance, the interested investors can buy the stock above Rs 1325 with a stop loss of Rs 1318.

The stock of the banking institution, on Oct 07, closed at Rs 1316.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1332.70 and a low of Rs 816.85 on BSE.

Current EPS & P/E ratio stood at 128.76 and 10.27 respectively.

PNB posts 28% rise in its net profit in first quarter

PNBIndia's leading public sector lender Punjab National Bank (PNB) has reported that there has been a significant net profit rise in the first quarter of the current fiscal year. The bank has announced its first quarter financial results for 2010-11.

According to the company, it has registered a net profit of Rs 1,068 crore during the April-June quarter of fiscal year 2010-11.

For the same quarter in the previous year, the net profit of PNB was reported to be Rs 832 crore. Hence there has been a net profit rise of 28% in the quarter under review.




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