PNB crosses ₹1 lakh crore market cap, the 3rd government bank in the country to achieve this milestone.
The market cap of Punjab National Bank (PNB) has crossed Rs 1 lakh crore. Punjab National Bank is the third government bank to achieve this feat. The bank’s shares have increased by more than 80 percent in the last six months. During trading on Friday, it rose by two percent to Rs 92, which is its highest level in 52 weeks. Along with the price rise, there was a significant growth in its volume. The bank’s shares closed at Rs 91.24 on BSE with a gain of 1.48%. With this, the market cap of the bank reached Rs 1,00,464.51 crore.
PNB after an 80% rally in six months becomes 3rd PSU bank to join the Rs 1 lakh crore market cap club
The market cap of Punjab National Bank has crossed Rs 1 lakh crore for the first time. Before PNB, SBI, and Bank of Baroda reached this position. This year, Punjab National Bank shares have risen by 60 percent, while in the last six months, it has risen by 80 percent. In the last two years, it has seen a growth of 125 percent.
In the third quarter of the financial year 2023, the standalone net profit of the bank jumped manifold to Rs 1,756 crore. It was Rs 411 crore in the same quarter last year. In the second quarter, the bank’s net interest income jumped 20 percent to Rs 9,923 crore. A year ago it was Rs 8,271 crore. Also, read this.