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

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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