Monday , September 20 2021

Punjab National Bank rises on getting nod to raise up to Rs 6,000 crore

Punjab National Bank is currently trading at Rs. 37.60, up by 0.05 points or 0.13% from its previous closing of Rs. 37.55 on the BSE.

Punjab National Bank

The scrip opened at Rs. 37.70 and has touched a high and low of Rs. 37.80 and Rs. 37.35 respectively. So far 1308460 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 46.40 on 19-Feb-2021 and a 52 week low of Rs. 26.30 on 29-Oct-2020.

Last one week high and low of the scrip stood at Rs. 38.50 and Rs. 37.15 respectively. The current market cap of the company is Rs. 41291.31 crore.

The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 13.78% and 13.07% respectively.

Punjab National Bank (PNB) has received approval from board of directors to raise up to Rs 6,000 crore by issuing bonds. The decision was taken at the meeting of the board of directors on September 10, 2021. Its board has approved raising of capital through the issue of Basel III additional Tier-1 (AT-1) bonds or Tier II bonds or a combination of both in one or more tranches up to a number of Rs 6,000 crore.

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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