PNB gains on getting nod for investment of up to Rs 500 crore in rights issue of PNB Housing Finance
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Punjab National Bank is currently trading at Rs. 31.70, up by 0.50 points or 1.60% from its previous closing of Rs. 31.20 on the BSE.
The scrip opened at Rs. 31.35 and has touched a high and low of Rs. 31.70 and Rs. 31.20 respectively. So far 485616 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 47.60 on 26-Oct-2021 and a 52 week low of Rs. 28.50 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 32.25 and Rs. 30.95 respectively. The current market cap of the company is Rs. 34464.48 crore.
The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 12.96% and 13.89% respectively.
Punjab National Bank (PNB) has received an approval for Bank's participation in the proposed Rights Issue of PNB Housing Finance (PNBHFL) for an amount upto Rs 500 Crore, in order to retain Bank's shareholding at 30% or below but above 26%, and to retain its status as Promoter. The Board of Directors has approved the same.
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.
