Nifty PSU Bank index has rebounded from the morning position. The index is trading higher by around 2.51% at 3845.85 levels.
The Punjab National Bank (PNB) stock has appeared as the most active bank stock in Nifty PSU Bank index, after PNB announced that its financial earnings for the Q4 March 31, 2017. The PNB stock was trading higher by close to 5 percent at Rs 174.8 / share, touching its intraday high of Rs 178 / share up by around 6.7 percent. The PNB has reported net profit of Rs 261.9 Cr for the quarter ended on March 31, 2017. The bank had reported a loss of Rs 5,367.14 Cr in the January – March quarter 2016.
The PNB stock is currently trading at Rs 173.75, up by Rs 6.8 or 4.07% versus its previous closing of Rs 166.95 on the BSE. The scrip opened at Rs 167.25 and has touched a high of Rs 177.95 and low of Rs 165. The promoters holding in PNB stood at 65.01 % while Institutions held 29.52 % and Non-Institutions held 5.47 percent.