PNB jumps on getting approval for merger with OBC, United Bank

05 Sep 2019

Punjab National Bank (PNB) is currently trading at Rs. 60.75, up by 0.85 points or 1.42% from its previous closing of Rs. 59.90 on the BSE.

The scrip opened at Rs. 61.80 and has touched a high and low of Rs. 61.95 and Rs. 60.50 respectively. So far 1306854 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 99.90 on 01-Apr-2019 and a 52 week low of Rs. 58.65 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 65.95 and Rs. 58.75 respectively. The current market cap of the company is Rs. 28015.63 crore.

The promoters holding in the company stood at 75.41%, while Institutions and Non-Institutions held 16.00% and 8.60% respectively.

Punjab National Bank's (PNB) board has considered and decided to give its in-principle approval for amalgamation of the Oriental Bank of Commerce (OBC) and United Bank of India into bank.

Further, the Board has also approved the capital infusion of upto Rs 18,000 crore by Government of India for preferential allotment of equity shares of PNB. The Board of Directors of the Bank at its meeting held on September 5, 2019 have considered and decided the same.

PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.

Related Punjab National Bank Links:

PNB Share Price

61.75 0.35 (0.57%) Nov 11, 17:59
1 Year Price Chart
Peers
Company Name CMP
SBI 318.30
PNB 61.75
Bank Of Baroda 96.50
Canara Bank 203.60
Bank Of India 67.10
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SEBI Registered: Investment Adviser - INA000013323
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