Saturday , September 18 2021

Punjab & Sind Bank gains on inking alliance with Indiabulls Commercial Credit and Indiabulls Housing Finance

Punjab & Sind Bank is currently trading at Rs. 16.80, up by 0.15 points or 0.90% from its previous closing of Rs. 16.65 on the BSE.

The scrip opened at Rs. 16.65 and has touched a high and low of Rs. 17.10 and Rs. 16.65 respectively. So far 128661 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 23.79 on 19-Feb-2021 and a 52 week low of Rs. 10.42 on 16-Oct-2020.

Last one week high and low of the scrip stood at Rs. 17.20 and Rs. 16.50 respectively. The current market cap of the company is Rs. 6828.75 crore.

The promoters holding in the company stood at 97.07%, while Institutions and Non-Institutions held 1.07% and 1.86% respectively.

Punjab & Sind Bank (PSB) has entered into a strategic co-lending alliance with Indiabulls Commercial Credit and Indiabulls Housing Finance (IHFL) for MSME and Priority Sector Housing Loans respectively.

The co-lending model would help the bank enhance its Retail and MSME portfolio and boost lending to MSME sector, which will aid the growth of the economy and employment generation.

Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.

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