PNB.NS - Punjab National Bank

NSE - NSE Real Time Price. Currency in INR
75.40
-0.05 (-0.07%)
At close: 3:29PM IST
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Previous Close75.45
Open75.25
Bid0.00 x 0
Ask75.40 x 0
Day's Range74.00 - 76.30
52 Week Range58.45 - 99.90
Volume34,490,617
Avg. Volume30,081,356
Market Cap346.915B
Beta (3Y Monthly)2.64
PE Ratio (TTM)N/A
EPS (TTM)-20.79
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2015-06-22
1y Target Est119.09
  • Exclusive: PNB likely to take control of 2-3 small state-run banks - sources
    Reuters29 days ago

    Exclusive: PNB likely to take control of 2-3 small state-run banks - sources

    India's Punjab National Bank is looking to merge with two or three government owned banks that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank, two sources familiar with the situation told Reuters, as New Delhi tries to cut the number of state-owned lenders. This could be the one of the first decisions to be taken by the new government after election results to be announced on May 23. Exit polls showed that the alliance led by India's Prime Minister Narendra Modi could win with a big majority.

  • Reuterslast month

    India sees little scope for Jet Airways revival - govt sources

    The Indian government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd , which halted operations last month, two senior finance ministry officials said. Parties that had initially expressed interest in Jet, which is saddled with roughly $1.2 billion of debt, have so far failed to come forward with firm bids to bail it out, increasing odds that it could soon face bankruptcy proceedings. The second official said it was only a matter of time before someone dragged the carrier to the National Company Law Tribunal - India's bankruptcy court - for recovery of dues.

  • Reuters2 months ago

    'Can't sleep at night': Despair over jobs as India's Jet Airways grounded

    Bhoja Poojari has handled baggage for India's Jet Airways Ltd since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends into crisis. Thousands of employees have been stung by the rapid unravelling of Jet Airways, which, saddled with more than $1.2 billion in bank debt, grounded all its planes on Wednesday after lenders rejected a plea for emergency funds.

  • Reuters2 months ago

    Jet Airways lenders to push forward with rescue plan; no clarity on interim funding

    Last month, Jet's lenders, led by State Bank of India (SBI) , agreed to bailout the airline in a complex deal that involved the banks taking a majority stake, while seeking out an investor to help revive the company's fortunes. The rescue plan also included a $218 million interim loan to keep the airline afloat.

  • RBI fines PNB for non-compliance on SWIFT use
    Reuters3 months ago

    RBI fines PNB for non-compliance on SWIFT use

    NEW DELHI (Reuters) - The Reserve Bank of India (RBI) has imposed a 20 million rupee ($289,880) penalty on Punjab National Bank for failing to comply with its guidelines on the use of the global payments ...

  • Reuters3 months ago

    Jet chairman Goyal steps down as banks move in with rescue plan

    NEW DELHI/MUMBAI, March 26 (Reuters) - Jet Airways Chairman Naresh Goyal will step down from the board of the Indian carrier he founded 25 years ago and its lenders will seize control, the company said, as part of a deal led by state-run banks to save the airline from bankruptcy. Saddled with debt of more than $1 billion, Jet has been on the brink of collapse, and had to ground more than two-thirds of its fleet as it struggled pay lenders, suppliers, pilots and leasing companies.

  • Reuters3 months ago

    Billionaire Indian remanded in custody after London court appearance

    LONDON/NEW DELHI, March 20 (Reuters) - Fugitive billionaire jeweller Nirav Modi, wanted by Indian authorities over a $2 billion loan fraud at state-run Punjab National Bank (PNB) was remanded in custody after appearing before a British court on Wednesday. India asked Britain last August to extradite Modi, 48, whose diamonds have sparkled on famous Hollywood stars, after he was accused of massive bank fraud, charges he denies.

  • UK judge denies bail to fugitive Indian diamond tycoon
    Associated Press3 months ago

    UK judge denies bail to fugitive Indian diamond tycoon

    LONDON (AP) — Diamond tycoon Nirav Modi, whose jewels once adorned stars from Bollywood to Hollywood, was ordered held without bail in London on Wednesday, more than a year after Indian authorities alleged he was involved in a $1.8 billion bank fraud.

  • Reuters3 months ago

    India's civil aviation minister calls for emergency meeting on Jet Airways

    India's civil aviation minister has called for an emergency meeting about Jet Airways Ltd as the cash-strapped carrier struggles to make payments to its creditors and has been forced to cancel hundreds of flights. The minister, Suresh Prabhu, has asked the civil aviation secretary to call for a meeting to discuss grounding of flights, advance bookings, cancellations, refunds, and safety issues, if any, at Jet. Saddled with debt of more than one billion dollars, Jet is struggling to stay afloat.

  • Reuters3 months ago

    India's Jet Airways denies report of new $293 mln loan from PNB

    India's debt-laden Jet Airways Ltd denied a media report on Monday that it had secured a 20.50 billion rupee ($293 million) loan from state-owned Punjab National Bank (PNB) to help pay overdue plane leasing fees and salaries. The airline, which has had to ground planes after failing to make payments to leasing companies and is behind on paying pilots' wages, said in a statement to the stock exchange that it has an existing credit facility of $300 million from PNB and that the bank has not provided any fresh credit. Indian daily Mint had reported earlier on Monday that Jet had secured foreign currency term loans worth 11 billion rupees and a credit facility of 9.50 billion rupees from PNB for its working capital needs, citing an unnamed source.

  • Reuters3 months ago

    Jet Airways denies report of new $293 million loan from PNB

    India's debt-laden Jet Airways Ltd denied a media report on Monday that it had secured a 20.50 billion rupee ($293 million) loan from state-owned Punjab National Bank (PNB) to help pay overdue plane leasing fees and salaries. The airline, which has had to ground planes after failing to make payments to leasing companies and is behind on paying pilots' wages, said in a statement to the stock exchange that it has an existing credit facility of $300 million from PNB and that the bank has not provided any fresh credit. Indian daily Mint had reported earlier on Monday that Jet had secured foreign currency term loans worth 11 billion rupees and a credit facility of 9.50 billion rupees from PNB for its working capital needs, citing an unnamed source.

  • Reuters3 months ago

    India waiting for UK reply after fugitive Nirav Modi's video surfaces

    India said on Saturday it was waiting for Britain to respond to its request to extradite fugitive billionaire jeweller Nirav Modi, after London's Telegraph newspaper reported that he was living in an upscale apartment in London. India had asked Britain in August to extradite Modi, one of the main suspects charged in the $2 billion loan fraud at state-run Punjab National Bank (PNB), India's biggest banking fraud.

  • Reuters3 months ago

    RBI fines 19 lenders for non-compliance on SWIFT use

    The Reserve Bank of India (RBI) has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT. "These are petty, procedural issues like counterparty confirmation and nothing major or structural," said one banker who is directly aware of the matter but declined to be named because he is not authorised to speak to the media. The Indian banking system was sent reeling early last year by a $2 billion fraud at state lender Punjab National Bank (PNB), resulting from unauthorised credit guarantees to businesses linked to billionaire jeweller Nirav Modi and his uncle Mehul Choksi via SWIFT.

  • Reuters4 months ago

    A year after India's biggest bank fraud, PNB on road for annual profit

    State-run PNB has already surprised markets with an earlier-than-expected profit for the quarter ended Dec. 31 as it completed setting aside funds to cover for the scam and its bad loan levels eased. While the lender is still likely to post a loss of 59.84 billion rupees (648.56 million pounds) for this fiscal year ending March 31, analysts expect PNB to return to a full-year profit in the next fiscal, according to Refinitiv data.

  • Fraud-hit PNB posts surprise profit, sees asset quality improving
    Reuters4 months ago

    Fraud-hit PNB posts surprise profit, sees asset quality improving

    The results come nearly a year after PNB revealed it was hit by a $2 billion fraud, with two jewellery groups defrauding it in India's biggest banking scam. The jewellery groups had raised credit overseas with fake guarantees issued by rogue staff at PNB's Mumbai Brady House branch. "We are back in (the) black, after 100 percent provisions for all our commitments," PNB chief executive Sunil Mehta told an earnings briefing.

  • Reuters5 months ago

    Government sacks PNB executives for lapses in $2 billion fraud in first firings: sources

    The government has sacked two executives of the state-run Punjab National Bank (PNB) for allegedly failing to prevent a $2 billion fraud, two sources said on Sunday, nearly a year after the country's biggest bank scam came to light and also dragged the government into the controversy. The firing of the two executive directors, whom the CBI have accused of breaching the Reserve Bank of India (RBI) guidelines, is the first instance of sacking of the bank's employees since it said that billionaire diamond jeweller Nirav Modi and his uncle had for years fraudulently raised billions of dollars in foreign credit by conspiring with staff at the bank. Modi and his uncle Mehul Choksi, who left India before the fraud was discovered, have denied the accusations.

  • CBI arrests PNB officials from Mumbai branch in separate fraud case
    Reuters6 months ago

    CBI arrests PNB officials from Mumbai branch in separate fraud case

    The Central Bureau of Investigation (CBI) said on Wednesday eight employees of state-run Punjab National Bank and two directors of a Mumbai-based private firm had been arrested in a $1.4 million fraud case. The case is separate from a much bigger one involving billionaire jeweller Nirav Modi and his associates, although it centres on the same branch of the bank, a spokesman of the Central Bureau of Investigation said. "The case was registered on the allegations of defrauding of Punjab National Bank ... in the matter of dishonest and fraudulent issuance of two Letters of Undertakings aggregating to the said amount," the CBI said in a statement.

  • Reuters6 months ago

    India police arrest PNB officials from Mumbai branch in separate fraud case

    India's federal police said on Wednesday eight employees of state-run Punjab National Bank and two directors of a Mumbai-based private firm had been arrested in a $1.4 million fraud case. The case is separate from a much bigger one involving billionaire jeweller Nirav Modi and his associates, although it centres on the same branch of the bank, a spokesman of the Central Bureau of Investigation said. "The case was registered on the allegations of defrauding of Punjab National Bank ... in the matter of dishonest and fraudulent issuance of two Letters of Undertakings aggregating to the said amount," the Central Bureau of Investigation (CBI) said in a statement.

  • Reuters6 months ago

    U.S.-based Carlyle seeks to double stake in India's PNB Housing: report

    The Carlyle Group is considering buying Punjab National Bank's shares in PNB Housing, which would give it a controlling stake, the report added. The U.S-based firm is keen on expanding its holding after valuations for the housing finance company turned attractive, the report said, citing people familiar with the matter. Reuters had reported in July that Punjab National Bank and Carlyle Group were jointly looking to sell at least 51 percent of their stake in PNB Housing.