Wednesday, December 25, 2024
Wednesday, December 25, 2024
Home BuisnessMarket Insight PNB has given 14 allottees Rs. 3,000 crore bond issue

PNB has given 14 allottees Rs. 3,000 crore bond issue

by PratapDarpan
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State-run lender Punjab National Bank (PNB) on Monday offered exchanges Rs. 3,000 crore bond issuance and allotment information was given. The Basel II compliant Tier-II bonds were allotted to 14 allottees at a coupon of 7.43% per annum.

The bonds are unsecured, subordinated, non-convertible, fully paid-up, redeemable and taxable, the company said in a filing.

PNB briefed on the development after mart hours. Shares of PSU Bank on NSE on Monday closed at Rs. 101.55, up from Friday’s closing price of Rs. 0.78 or 0.77% were higher.

The bank’s shares have returned 15% over the past one year, outperforming the Nifty’s 11% return over the same period. In 2024, till now, its return is 4%.

The stock is currently trading at its 50-day and 200-day simple moving averages (SMA) of Rs. 104 and Rs. Trading below 117. It also trades with high volatility with a 1-year beta, as reported by Trendlyne, standing at 1.7.

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    It has been falling for more than six months.

    Momentum indicators RSI and MFI are in the moderate range at 41 and 37 respectively. A number above 70 is considered overbought while a number below 30 is considered oversold.

    PNB reported a 145% jump in its standalone net profit in the September quarter from Rs. 1,756 crore as against Rs. 4,303 crores was reached. PNB’s net interest income (NII) rose to ₹10,517 crore in Q2 FY25 from Rs. 9,923 crore, an increase of 5.99% YoY.

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