Punjab National Bank rises 2% as board approved capital raising plan

Share price of Punjab National Bank (PNB) rose 2.2 percent intraday July 26 as company approved to raise capital worth Rs 5000 crore.

A meeting of the board of directors granted approval for raising equity capital amounting up to Rs 5000 crore in one or more tranches through qualified institutional placements (QIP)/ follow-on public offer(FPO)/rights issue.

At 09:56 hrs Punjab National Bank was quoting at Rs 67.20, up Rs 1.15, or 1.74 percent on the BSE.

The share touched its 52-week high Rs 99.90 and 52-week low Rs 58.65 on 01 April, 2019 and 01 October, 2018, respectively.

Currently, it is trading 32.68 percent below its 52-week high and 14.66 percent above its 52-week low.