Punjab National Bank share prices rises 7% post Q1 results: Should you Buy, Sell or Hold the stock ?

জুলাই 29, 2024

Stock Market Today: Punjab National Bank share price gained more than 7% in the morning trades on Monday post Q1 results: The bank reported highest-ever quarterly standalone profit of ₹3,252 crore, bolstered by an increase in interest revenue and a decrease of bad loans. Buy, Sell or Hold?

Stock Market Today: Punjab National Bank (PNB)share price gained more than 7% in the morning trades on Monday post Q1 results, that were declared over the week end.

Punjab National Bank (PNB)share price opened at ₹124.86, almost 4% higher than previous close of ₹119.95 on the NSE on monday. PNB share price thereafter continued to gain to intraday highs of ₹128.66, marking gains of more than 6%.

The Punjab National Bank (PNB) reported highest-ever quarterly standalone profit of ₹3,252 crore, bolstered by an increase in interest revenue and a decrease of bad loans. The net profit rose 159 per cent year on year.

The difference between interest earned and paid, or the net interest income (NII), increased 10.2% to ₹10,476.2 crore in the first quarter of the current fiscal year from ₹9,504.3 crore in the same period last year.