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Punjab National Bank

Punjab National Bank Fundraise News Boosts Stock; Hits 52-Week High | Stock Market News

Punjab National Bank Fundraise News Boosts Stock; Hits 52-Week High | Stock Market News

Fri, Dec 29, 2023

Punjab National Bank (PNB) shares surged in morning trade after announcing a Rs 7,500 crore capital raise plan. The stock jumped to a new 52-week high of Rs 96.55 but later retreated amidst profit booking. Analysts foresee potential further gains, with targets of Rs 110 if the stock surpasses Rs 100 on closing basis.

Exclusive: In conversation with SS Mallikarjuna Rao, MD and CEO, PNB

Exclusive: In conversation with SS Mallikarjuna Rao, MD and CEO, PNB

Fri, Dec 06, 2019

In conversation with SS Mallikarjuna Rao, MD and CEO of Punjab National Bank. To know more watch the video

PNB's NPA slippages will be restricted within Rs19,000 crore levels by end of this fiscal year: SS Mallikarjuna Rao, MD & CEO

PNB's NPA slippages will be restricted within Rs19,000 crore levels by end of this fiscal year: SS Mallikarjuna Rao, MD & CEO

Fri, Nov 08, 2019

The accounts that turned up to be an NPA account and added to the slippage in this quarter include Jet Airways. Besides, the retail, agriculture and MSME (RAM) has a contribution of around Rs3,000 crore to the slippage of the quarter. Thus, total slippage stands around Rs11,000-12,000 crore in the first half of the year.

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After Moody’s now ICRA downgrades PNB rating; may enter RBI’s PCA framework

After Moody’s now ICRA downgrades PNB rating; may enter RBI’s PCA framework

Tue, May 22, 2018

Two jewellers, Nirav Modi and Mehul Choksi fraud of over Rs 14,356.84 crore has reflected in the earnings of Punjab National Bank in a very disappointing manner.

Moody's downgrades PNB on the impact of Nirav Modi fraud

Moody's downgrades PNB on the impact of Nirav Modi fraud

Mon, May 21, 2018

International rating agency Moody's on Monday said it has downgraded state-run Punjab National Bank's (PNB) rating to Ba1/NP from Baa3/P-3, due to impact on the lender's profitability following Nirav Modi-fraud case.

Will PNB see any ray of hope; analysts trim down ratings

Will PNB see any ray of hope; analysts trim down ratings

Sun, May 20, 2018

Two jewellers, Nirav Modi and Mehul Choksi linked fraud of over Rs 14,000 crore has reflected in the earnings of Punjab National Bank in a very disappointing manner.

PNB fraud case: Rs 85-cr worth jewellery of Mehul Choksi firm brought back from Dubai

Thu, May 17, 2018

PNB fraud case: The Enforcement Directorate today said it has seized over 34,000 pieces of jewellery worth Rs 85 crore from the Gitanjali Group, owned by diamantaire Mehul Choksi, in connection with the Rs 13,000-crore Punjab National Bank (PNB) fraud case.

Fraud-hit PNB rapped for not making timely regulatory disclosures

Fraud-hit PNB rapped for not making timely regulatory disclosures

Thu, May 17, 2018

State-owned Punjab National Bank (PNB) has received a warning letter from the country`s markets regulator for failing to make timely disclosures to the stock exchanges about a sprawling $2 billion fraud.

Guess what! PNB Housing Finance now more valuable than parent Punjab National Bank

Guess what! PNB Housing Finance now more valuable than parent Punjab National Bank

Thu, May 17, 2018

The market capitalisation of PNB Housing Finance stood at Rs 21,199.07 crore. The m-cap of Punjab National Bank was at Rs 20,842.33 crore. With this, PNB Housing Finance has become more valuable than its parent company PNB.

How big is PNB fraud: All you need to know in brief

How big is PNB fraud: All you need to know in brief

Wed, May 16, 2018

Scam-hit Punjab Nation Bank came up with a loss figure of Rs 13,416.91 crore, the biggest quantum loss suffered by any bank in the country.

PNB share price cracks whopping 13%; value buy or dud investment?

PNB share price cracks whopping 13%; value buy or dud investment?

Wed, May 16, 2018

PNB witnessed deterioration in gross net performing assets (NPAs) or bad loans, which rose to 18.38 per cent of gross advances at the end of March this year, as against 12.53 per cent a year ago. Net NPAs also soared to 11.24 per cent against 7.81 per cent year ago.

FAST MONEY: Lupin, PNB among key intraday trading tips

FAST MONEY: Lupin, PNB among key intraday trading tips

Wed, May 16, 2018

Sensex today: The benchmark indices are expected to open lower on Wednesday as uncertainty prevails in Karnataka as to who would form the government. Negative trend in Asian markets also impacted the sentiment. At 8:45 am, SGX Nifty was trading at 10,761, down 64.50 points or 0.60 per cent.

Nirav Modi, Mehul Choksi fraud dents PNB Q4FY18 earnings, net loss soars to Rs 13,415 crore

Nirav Modi, Mehul Choksi fraud dents PNB Q4FY18 earnings, net loss soars to Rs 13,415 crore

Tue, May 15, 2018

This third largest PSB in India in terms of market cap, posted a net loss of a massive Rs 13,416.91 crore during the fourth quarter ended March 2018, compared to net profit of Rs 261.90 crore in corresponding period of previous year.

PNB share price hit 52-week low on biggest ever quarterly loss

PNB share price hit 52-week low on biggest ever quarterly loss

Tue, May 15, 2018

Punjab National Bank share price tanked 6 per cent on Tuesday after the public sector bank posted largest ever quarterly loss of Rs 13,416.91 crore for the January-March period. The stock went down by 3.80 per cent to end at Rs 86 on BSE. In intraday trade, the stock dipped 6.26 per cent to Rs 83.80, its 52-week low level.

PNB posts biggest ever quarterly loss of Rs 13,417 cr in Q4

PNB posts biggest ever quarterly loss of Rs 13,417 cr in Q4

Tue, May 15, 2018

Scam hit Punjab National Bank (PNB) today posted largest ever quarterly loss of Rs 13,416.91 crore for January-March period, mainly on account of high provisioning for bad loans. The bank had reported standalone profit of Rs 261.90 crore in the fourth quarter of 2016-17

PNB revives plans to launch insurance arm's IPO, but is yet to file papers with Sebi

PNB revives plans to launch insurance arm's IPO, but is yet to file papers with Sebi

Tue, May 15, 2018

PNB Metlife said it is committed to enhancing shareholder/investor value as a professionally managed institution. However, it refrained from divulging details of the IPO plans.

PNB fraud: MoF initiates action against Allahabad Bank CEO Usha Ananthasubramanian

PNB fraud: MoF initiates action against Allahabad Bank CEO Usha Ananthasubramanian

Tue, May 15, 2018

A Ministry official told IANS that the Department of Financial Services (DFS) had asked the government representative in the Allahabad Bank to come up with a proposal before the board to strip Ananthasubramanian of her powers.

PNB fraud case: CBI charges former head and 10 other officials: Sources

PNB fraud case: CBI charges former head and 10 other officials: Sources

Mon, May 14, 2018

PNB, India`s second-largest state-run bank, disclosed in February that two jewellery groups had defrauded it by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff over several years. PNB has been conducting a separate internal probe into the fraud and has already suspended over 20 officials.

Rs 300 cr PNB remittances funneled to Nirav Modi firms in US

Rs 300 cr PNB remittances funneled to Nirav Modi firms in US

Mon, May 14, 2018

US firms, controlled by Nirav Modi, have been found to be the recipients of at least $46 million (or over Rs 300 crore) in remittances from Punjab National Bank (PNB) since 2011, show findings of accounting firm BDO’s ongoing forensic investigation shared with an American court.

BoI has Rs 200 cr exposure in PNB scam, initiates proceedings: CEO

BoI has Rs 200 cr exposure in PNB scam, initiates proceedings: CEO

Tue, May 08, 2018

State-owned Bank of India (BoI) has an exposure of Rs 200 crore in the Punjab National Bank fraud case and the public sector lender has initiated insolvency proceedings against Nirav Modi firms, said a top official of the bank.

These wilful defaulters owe PNB Rs 15,172 crore

These wilful defaulters owe PNB Rs 15,172 crore

Sun, May 06, 2018

PNB wilful defaulters: The liability on such defaulters rose by 1.8 per cent from Rs 14,904.65 crore in February. The public sector lender has been putting out the names of wilful defaulters and firms since June 2017. Within ten months, these defaults have grown by 28 per cent , from Rs 11,879.74 crore

This is why Rs 13,500cr PNB fraud case went undetected

This is why Rs 13,500cr PNB fraud case went undetected

Tue, May 01, 2018

PNB fraud case: The report, submitted to the Ministry of Corporate Affairs (MCA), focuses on how to deal with frauds and irregularities of a serious nature that have big financial implications. The ICAI, which works under the administrative control of the MCA, had constituted a high powered group in February to look into the PNB scam. Further action on the report will be taken by the government soon. “We are studying the report and will take action wherever it is necessary,” a highly placed source in the government told DNA Money.

You won't believe what Punjab National Bank has done to get its money back!

You won't believe what Punjab National Bank has done to get its money back!

Wed, Apr 25, 2018

In its efforts to recover NPAs, the PNB has also resorted to 'Gandhigiri' wherein its staff hope to 'name and shame' defaulting borrowers to recover up to Rs 150 crore worth bad loans every month. The Delhi-headquartered bank has been at the receiving end of the over Rs 13,000 crore fraud involving diamond merchants Nirav Modi and Mehul Choksi

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