Punjab National Bank jumped 5.43% to Rs 142.65 at 12:15 IST on BSE after net profit dropped 48.7% to Rs 720.71 crore on 4.73% rise in total income to Rs 13432.05 crore in Q1 June 2015 over Q1 June 2014.
The result was announced during market hours today, 28 July 2015.
Meanwhile, the S&P BSE Sensex was up 24.17 points or 0.09% at 27,585.55.
On BSE, so far 16.82 lakh shares were traded in the counter as against average daily volume of 6.73 lakh shares in the past one quarter.
The stock hit a high of Rs 144.05 and a low of Rs 132.30 so far during the day. The stock had hit a 52-week high of Rs 231.50 on 19 December 2014. The stock had hit a 52-week low of Rs 129.65 on 16 June 2015.
The stock had outperformed the market over the past one month till 27 July 2015, declining 0.59% compared with Sensex's 0.9% decline. The scrip had however underperformed the market in past one quarter, dropping 15.23% as against Sensex's 1.41% gain.
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The large-cap public sector bank has equity capital of Rs 370.91 crore. Face value per share is Rs 2.
Punjab National Bank (PNB)'s provisioning coverage ratio stood at 59.32% as on 30 June 2015.
The state-run bank said it has no direct exposure to the coal blocks/mines cancelled by the Supreme Court of India. However, the impact if any, of such cancellation on the valuation of security, penalty imposed and the consequent viability of the projects financed by the bank dependent on such coal blocks/mines, being unascertainable at this stage has not been considered, PNB said.
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