iStockSharekhan by BNP Paribas has buy call on Punjab National Bank with a target price of Rs 64. The current market price of Punjab National Bank is Rs 47.84.
Punjab National Bank, incorporated in the year 1969, is a banking company (having a market cap of Rs 52907.93 Crore).
Punjab National Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 26133.53 Crore, up 12.20 % from last quarter Total Income of Rs 23291.70 Crore and up 17.33 % from last year same quarter Total Income of Rs 22273.40 Crore. The bank has reported net profit after tax of Rs 708.27 Crore in latest quarter.
Investment Rationale
The brokerage believes correction (~18-20%) in the stock seems to be overdone due to Adani-Hindenburg saga and provides good opportunity to add due to improving business outlook. Also, improvement in the bank’s core RoA is expected to drive strong outperformance in the near to medium term.
Promoter/FII Holdings
Promoters held 73.15 per cent stake in the company as of 31-Dec-2022, while FIIs owned 1.71 per cent, DIIs 12.95 per cent.
Punjab National Bank, incorporated in the year 1969, is a banking company (having a market cap of Rs 52907.93 Crore).
Punjab National Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 26133.53 Crore, up 12.20 % from last quarter Total Income of Rs 23291.70 Crore and up 17.33 % from last year same quarter Total Income of Rs 22273.40 Crore. The bank has reported net profit after tax of Rs 708.27 Crore in latest quarter.
Investment Rationale
The brokerage believes correction (~18-20%) in the stock seems to be overdone due to Adani-Hindenburg saga and provides good opportunity to add due to improving business outlook. Also, improvement in the bank’s core RoA is expected to drive strong outperformance in the near to medium term.
Promoter/FII Holdings
Promoters held 73.15 per cent stake in the company as of 31-Dec-2022, while FIIs owned 1.71 per cent, DIIs 12.95 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Tuesday, 14 Mar, 2023Experience Your Economic Times Newspaper, The Digital Way!
- Front Page
- Pure Politics
- Companies
- ET Markets
- More
D-St Indices Tank 1.5%; Bank Shares Lead SelloffIndia’s leading stock indices tumbled 1.5% on Monday, extending the rout to the third straight session, as US regulators’ efforts to limit the fallout of the collapse of two banks over the weekend did little to calm investors.
Baring EQT could Deploy $4-5 b in India Over 3 YrsSince 1998, BPEA EQT has deployed $5.5 billion in India in companies like Mphasis, Hexaware, CitiusTech, VFS, RBL Bank, among others. Of this, over $4-5 billion was in the last five years.
Double Dhamaka for India at Oscars‘Naatu Naatu’, the chart-topper from SS Rajamouli's blockbuster RRR, and Kartiki Gonsalves and Guneet Monga’s ‘The Elephant Whisperers’ scripted history for India at the 95th Academy Awards.
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by 
Get Unlimited Access to The Economic Times 
