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PNB rises on planning to sell non-core assets worth Rs 8,600 crore during FY19

Punjab National Bank is currently trading at Rs. 68.40, up by 1.25 points or 1.86% from its previous closing of Rs. 67.15 on the BSE.

The scrip opened at Rs. 67.80 and has touched a high and low of Rs. 68.55 and Rs. 67.80 respectively. So far 127775 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 231.60 on 26-Oct-2017 and a 52 week low of Rs. 58.65 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 68.55 and Rs. 62.50 respectively. The current market cap of the company is Rs. 20639.00 crore.

The promoters holding in the company stood at 62.25% while Institutions and Non-Institutions held 29.16% and 8.59% respectively.

Punjab National Bank (PNB) has recognized various assets, including its housing finance arm, for sale and hopes to realise Rs 8,600 crore from these non-core assets during the current fiscal. Meanwhile, the bank has already sold some of the fixed assets and have realised Rs 400 crore from these assets.

Besides, the bank also wants to dilute its 4% stake in life insurance joint venture, while few of the fixed assets have already sold out.

PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.

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