Punjab & Sind Bank moves up on reporting 18% rise in Q1 net profit

Punjab & Sind Bank is currently trading at Rs. 15.30, up by 0.38 points or 2.55% from its previous closing of Rs. 14.92 on the BSE.

The scrip opened at Rs. 15.05 and has touched a high and low of Rs. 15.39 and Rs. 14.70 respectively. So far 211628 shares were traded on the counter.

Punjab Sind Bank
Punjab Sind Bank

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 20.45 on 02-Aug-2021 and a 52 week low of Rs. 12.50 on 21-Jun-2022.

Last one week high and low of the scrip stood at Rs. 15.43 and Rs. 14.55 respectively. The current market cap of the company is Rs. 10376.79 crore.

The promoters holding in the company stood at 98.25%, while Institutions and Non-Institutions held 0.66% and 1.09% respectively.

Punjab & Sind Bank has reported 17.75% rise in its net profit at Rs 204.70 crore for the quarter ended June 30, 2022 as compared to Rs 173.85 crore for the same quarter in the previous year. However, total income of the bank decreased by 4.62% at Rs 1,915.47 crore in Q1FY23 as compared Rs 2,008.30 crore for the corresponding quarter previous year.

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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