 "Punjab National bank, PNB")
Shares of UTI Asset Management Company (UTI AMC) jumped nearly 8 per cent, a day after state-owned Punjab National Bank (PNB) announced its plans to divest its holdings in the asset manager. Shares of PNB too finished more than 5 per cent higher.
In fact, shares of PNB hit a 21-month high of Rs 54.90 per share during intraday trade to end the day at Rs 54.55 per share on the BSE. The former ended Friday at Rs 743.5.
“The Bank has received approval of DIPAM, Ministry of Finance, Government of India for divestment of Bank's entire/part stake in UTI
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