has buy call on Punjab National Bank with a target price of Rs 42. The current market price of Punjab National Bank is Rs 38.4.
Punjab National Bank, incorporated in the year 1969, is a banking company (having a market cap of Rs 40181.91 Crore).
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated Interest Income of Rs 14162.12 Crore, up 1.71 % from last quarter Interest Income of Rs 13924.49 Crore and up 58.08 % from last year same quarter Interest Income of Rs 8959.03 Crore. The bank reported net profit after tax of Rs 544.66 Crore in latest quarter.
Investment Rationale
Stock has given a consolidation breakout with an uptick in the volume on the daily chart.
Promoter/FII Holdings
Promoters held 85.6 per cent stake in the company as of June 30, 2020, while FIIs held 1 per cent, DIIs 6.8 per cent and public and others 6.6 per cent.
