Thursday 13 November 2008

ULJK Securities bullish on PNB

ULJK Securities remains bullish for the Punjab National Bank, PNB considering the performance. "Punjab National Bank (PNB), the second largest PSB, has been able to post a strong performance for the quarter ended September 2008. The Bank has posted a net profit of Rs 7070.9 million, a growth of 31% on YoY basis on the back of a strong 33% growth in net interest income and a 42% growth in the non-interest income. Overall, we remain bullish for the Bank considering the performance. At the CMP of Rs.486 the stock is trading at approx 1.13x P/BV on the book value of Rs.429 as on September 2008, "says ULJK Securities research report.

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Source: Moneycontrol

Posted by Harsh at 07:27

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