Thursday , October 28 2021

PNB Gilts declines as RBI imposes monetary penalty on it

PNB Gilts is currently trading at Rs. 49.70, down by 0.50 points or 1.00% from its previous closing of Rs. 50.20 on the BSE.

The scrip opened at Rs. 51.00 and has touched a high and low of Rs. 51.10 and Rs. 49.50 respectively. So far 32115 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 61.45 on 08-Feb-2021 and a 52 week low of Rs. 21.50 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 52.90 and Rs. 49.90 respectively. The current market cap of the company is Rs. 893.75 crore.

The promoters holding in the company stood at 74.07%, while Institutions and Non-Institutions held 0.30% and 25.63% respectively.

Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 4,91,400 on PNB Gilts for bouncing of SGL which lead to shortage of balance in certain securities in the Company’s SGL account on February 16, 2021. The Company has since enhanced its review mechanism so as to ensure that such incidents do not recur.

PNB Gilts a renowned and preferred name in the Indian debt market was one of the first entities to be granted the Primary Dealership License by the Reserve Bank of India. The company is also a subsidiary of one of the largest Indian commercial banks, Punjab National Bank.

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