Punjab & Sind Bank rises on reporting 27% rise in Q2 net profit
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Punjab & Sind Bank is currently trading at Rs. 18.90, up by 0.30 points or 1.61% from its previous closing of Rs. 18.60 on the BSE.
The scrip opened at Rs. 19.45 and has touched a high and low of Rs. 19.80 and Rs. 18.85 respectively. So far 209750 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 19.80 on 07-Nov-2022 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. 19.80 and Rs. 16.00 respectively. The current market cap of the company is Rs. 12843.91 crore.
The promoters holding in the company stood at 98.25%, while Institutions and Non-Institutions held 0.67% and 1.08% respectively.
The bank has reported rise of 27.41% in its net profit at Rs 278.10 crore for Q2FY23 as compared to Rs 218.28 crore for the corresponding quarter previous year. Total income of the bank increased by 6.17% to Rs 2120.17 crore for the quarter under review as compared to Rs 1996.96 crore for the same quarter in the 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.
