Punjab & Sind Bank rose 2.39% to Rs 29.95 at 09:28 IST on BSE after the bank intimated about the revised marginal cost of funds based lending rate applicable from 16 November 2018.
The announcement was made after market hours yesterday, 15 November 2018.Meanwhile, the S&P BSE Sensex was up 169.48 points or 0.48% at 35,430.02
On the BSE, 1,316 shares were traded in the counter so far as against average daily volume of 6,909 shares in the past two weeks. The stock had hit a high of Rs 29.95 and a low of Rs 29.45 so far during the day.
Punjab & Sind Bank has reviewed the Marginal Cost of Fund Based Lending Rate (MCLR) for different tenors effective from 16 November 2018. Overnight marginal cost of funds was fixed at 8%, one month MCLR was fixed at 8.2%, three month MCLR was fixed at 8.4%, six months MCLR was fixed at 8.5%, one year MCLR was fixed at 8.8% and three years MCLR was fixed at 9.1%.
Punjab & Sind Bank reported net loss of Rs 109.23 crore in Q2 September 2018 as compared with net profit of Rs 13.70 crore in Q2 September 2017. Total income rose 11.2% to Rs 2409.41 crore in Q2 September 2018 over Q2 September 2017.
The Government of India held 85.557% in Punjab & Sind Bank (as per the shareholding pattern as on 30 September 2018).
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