Punjab National Bank (PNB) : Rises On Divestment Plans

Gold Silver Reports (GSR) – Punjab National Bank (PNB): Rises On Divestment Plans — Shares of the fraud-hit lender extended gains for the fourth straight session today, its longest winning streak since Oct last year. The stock rose as much as 4.4 percent to Rs 92.35 apiece.

The bank plans to divest stake in PNB Housing Finance, ICRA, Crisil and BSE, according to its exchange filing. It also expects a Rs 8,000 crore recovery from bad loans in the first quarter of the current financial year, according to a PTI report.

The stock has declined 47 percent so far this year and fell 41 percent over the last 12 months.


IndusInd Bank: Rises After Receiving Merger Approval

Shares of the Mumbai-based lender today rose as much as 1.3 percent to Rs 1,912.35 apiece. The bank received an approval from the Reserve Bank of India to set up a subsidiary as part of the merger with Bharat Financial, according to its exchange filing.

IndusInd Bank trades at 23 times its estimated earnings per share for the coming year, according to Bloomberg data. Besides, shares of Bharat Financial rose as much as 0.6 percent to Rs 1,162.40.


 

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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