PNB profit may beat estimates - StarMine

Reuters Market Eye - Punjab National Bank profit may beat consensus estimates when it reports October-December quarter results later in the day, Thomson Reuters StarMine's SmartEstimates show.

StarMine's SmartEstimates, which places a greater emphasis on forecasts by top-rated analysts, expects Punjab National Bank to report a profit of 9.14 billion Indian rupees for the quarter, compared with a consensus mean estimate of 8.99 billion rupees.

However, dealers worry about asset quality and outlook after blue chip private sector rival ICICI Bank on Wednesday said it sees the amount of corporate defaults rising in the coming quarters as borrowers succumb to the pressures of a sluggish economy.

 

In early trade, PNB stock is down 0.7 percent

(Reporting by Abhishek Vishnoi)