Punjab National Bank moves up on inking pact with India Infrastructure Finance Company
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Punjab National Bank is currently trading at Rs. 115.85, up by 0.50 points or 0.43% from its previous closing of Rs. 115.35 on the BSE.
The scrip opened at Rs. 118.05 and has touched a high and low of Rs. 119.10 and Rs. 110.55 respectively. So far 4312578 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 142.90 on 30-Apr-2024 and a 52 week low of Rs. 49.70 on 26-Jun-2023.
Last one week high and low of the scrip stood at Rs. 138.50 and Rs. 106.40 respectively. The current market cap of the company is Rs. 127562.62 crore.
The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 17.18% and 9.67% respectively.
Punjab National Bank (PNB) has signed an agreement with India Infrastructure Finance Company (IIFCL) to offer long-term financial assistance to viable infrastructure projects. With this, both the institutions will collaborate to fund the infrastructure projects wherein the parties can mutually participate under consortium/multiple lending arrangements to provide financial support to the prospective borrowers subject to due diligence and on a case-to-case basis. This Memorandum of Understanding (MoU) would be a milestone in finding new avenues of lending to the infrastructure projects of the country and they assured full participation from both sides in this endeavor.
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.
