PNB soars 6% on heavy volumes; stock has more-than-doubled since April

Thus far in the month of December, PNB has appreciated by 25% on consistent improvement in headline asset quality metrics, and steady reduction in fresh slippages over the recent past.

Shares of Punjab National Bank (PNB) hit over four-year high at Rs 96.93, surging 6 per cent on the BSE in Thursday’s intra-day trade backed by heavy volumes.

Since April, the stock price of state-owned lender has more-than-doubled or zoomed 108 per cent on consistent improvement in headline asset quality metrics, and steady reduction in fresh slippages over the recent past. It was quoting at its highest level since April 2019.

The average trading volumes at the counter jumped nearly three-fold today. A combined nearly 127 million equity shares of PNB changed hands on the NSE and BSE