PNB: Savvy retail investors buying low, selling high
Retail investors have always been accused of buying high and selling low, and jumping in and out of markets at exactly the wrong time. But times are changing. At least a section of the investors is
Fraud-hit PNB looking to sell real estate assets
Punjab National Bank would look to sell assets through a tendering process and is said to be in talks with interested parties Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Audio Conference call by Top Managment of the Bank with analysts/investors After Nirav Modi scam at PNB, fear of sweetheart deals at other banks too
The case surfaced as a rule change by RBI in early January forced PNB to tap Nirav Modi and other importers for more margin money, and a query from the central bank about two 'tainted' PNB officials Clarification sought from Punjab National Bank
The Exchange has sought clarification from Punjab National Bank with respect to news article appearing on www.business-standard.com - February 16, 2018 titled "Govt asks fraud-hit Punjab National Bank to conduct forensic audits".The reply is awaited. Announcement under Regulation 30 (LODR)-Updates
Clarification on Media reports regarding "ED raids offices of Nirav Modi, PNB and Gitanjali gems" PNB's 11,400-cr scam rattles jewellery stocks
Don't go for bargain hunting, stick to the leaders in the sector: MD, SSJ Finance PNB sheds Rs 81 bn in market value in 2 days; stock falls 12% on Thursday
Shares of state-owned Punjab National Bank (PNB) dropped 12 per cent on Thursday to Rs 128.4. The lender, in the epicenter of a $1.77-billion scam, has seen market capitalisation erosion of Rs 81 billion in two days. It stock has shed 21 per cent, in its worst two-day decline since May 2004.Besides the government-which holds 57 per cent stake -in the bank, the slide in shares has cut the Life Insurance Corporation of India (LIC), which holds nearly 14 per cent stake. It has impacted other institutional investors like HDFC Mutual Fund and Lazard Emerging Markets. Small investors hold nearly four per cent stake in the bank.PNB, India's second-largest state-owned lender after State Bank of India, is now valued at just Rs 311 billion.Market players said investors are dumping shares of the bank given the big scale of the fraud and concerns of it spreading. Analysts said investors are also doubting the state-owned bank's lending processes and systems."The amount involved is substantial, ..
PNB fraud erodes Rs8,000 crore of bank's market cap in 2 days
Punjab National Bank has lost over Rs8,000 crore of its market valuation in 2 days an amount equivalent to over six times its full-year profit
As PNB dominates the news, a block deal
Punjab National Bank's fraud crisis has spooked some large investors enough that a large number of shares changed hands in a block deal. 12.3 lakh shares changed hands in PNB via a block deal, as the share price fell by double digits. PNB management is working to calm investors but sentiment on the stock is weak after disclosures of significant fraud by jeweller Nirav Modi and other parties.