Meanwhile, shares of PNB Housing Finance Ltd slipped 1.36% to Rs1,184.35 on BSE.
New Delhi: Shares of Punjab National Bank (PNB) tumbled over 7% on Monday, extending the fall for the fourth straight session following the Rs11,400-crore fraud at one its Mumbai branches.
PNB shares opened lower and slumped further 7.16% to its 52-week low of Rs116.65 on BSE. At NSE, the stock dived 6.77% to hit a one-year low of Rs117.05. In four trading sessions, the stock has lost nearly 28% and suffered an erosion of Rs10,781.12 crore from its market capitalisation.
Meanwhile, shares of PNB Housing Finance Ltd slipped 1.36% to Rs1,184.35 on BSE.
On Wednesday last week, PNB said it detected a fraud in which diamond jewellery designer Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one its branches for overseas credit from other Indian lenders, and is being probed by CBI and Enforcement Directorate among other agencies.
-k2QE--621x414@LiveMint.jpg "The Supreme Court, while delivering the Cauvery verdict, put supply of drinking water on a ‘higher pedestal’, allocated an additional 4.75 tmcft to Bengaluru to meet the drinking water and domestic requirements of the ‘global city’. Photo: Mint")