Rs 114-bn PNB scam: Experts see share price slipping to Rs 90-100 levels

At Rs 114 billion, the hit could be about 23% of PNB's current net worth

Shares of Punjab National Bank (PNB) are down 28 per cent in four trading sessions, including Monday’s 7.4 per cent fall. 

The nearly Rs 111-billion decline in PNB’s market value, following the alleged Rs 114-billion fraud detected on February 14, may suggest that there is value in the counter. But, most experts said investors should not hurry as the market had not factored in the event completely. So, the bottom is yet to come.

For one, the bank is facing pressure on account of non-performing assets (NPAs). With the latest fraud detected, these will weigh on its net worth, even