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Monday, May 23, 2022

PNB Stock: Punjab National Bank’s stock fell sharply, after poor quarterly results yesterday, at a 1-year low today

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PNB Stock Down: Shares of state-run Punjab National Bank (PNB) fell more than 11 per cent today. Shares of PNB fell 11.17 per cent to a 52-week low of Rs 29.40 on BSE and NSE. In yesterday’s results, there was a 66 per cent decline in PNB’s single net profit for the quarter ended March 2022.

How is the business in PNB’s stock going at 12:40 pm
At 12:40 pm, the stock of Punjab National Bank has broken further than its 1-year low. The share of PNB has come down by Rs 3.90 i.e. 11.78 percent to Rs 29.20 per share.

Shares of Punjab National Bank went down to Rs 29.05
Today PNB’s stock had come down to a low of Rs 29.05, which is less than its 52-week or one-year low.

PNB shares fall over 11 per cent after fourth quarter results
On Wednesday, PNB’s single net profit for the fourth quarter of the last financial year ended March 2022 fell 66 per cent to Rs 202 crore. Due to this, the bank had earned a net profit of Rs 586 crore in the same quarter of the previous financial year.

PNB sent information to the stock market
In a communication sent to the stock exchanges, the bank said on Wednesday that its total standalone income during the quarter stood at Rs 21,095 crore, as against Rs 21,386 crore in the year-ago period.

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