Banking

PNB share price: Buy Punjab National Bank, target price Rs 42: IIFL

Read more at m.economictimes.com

has buy call on Punjab National Bank with a target price of Rs 42. The current market price of Punjab National Bank is Rs 38.4.

Punjab National Bank, incorporated in the year 1969, is a banking company (having a market cap of Rs 40181.91 Crore).

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated Interest Income of Rs 14162.12 Crore, up 1.71 % from last quarter Interest Income of Rs 13924.49 Crore and up 58.08 % from last year same quarter Interest Income of Rs 8959.03 Crore. The bank reported net profit after tax of Rs 544.66 Crore in latest quarter.

Investment Rationale
Stock has given a consolidation breakout with an uptick in the volume on the daily chart.


Promoter/FII Holdings
Promoters held 85.6 per cent stake in the company as of June 30, 2020, while FIIs held 1 per cent, DIIs 6.8 per cent and public and others 6.6 per cent.

Read more at m.economictimes.com

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