The shares of india’s leading Non-banking financial company (NBFC) gained upto 4 percent after the company received an CRISIL A1+ credit rating on its commercial paper.
PNB Gilts Ltd is a small cap company with Market capitalization of Rs 1,530.09 crores.At 2:57 p.m, the company shares were trading at Rs 85.23 a share, an increase of 2.27 percent from the previous closing price.
According to the company’s regulatory filing, CRISIL Ltd, one of India’s largest independent and integrated research houses, rewarded PNB Gilts Ltd with Credit rating of CRISIL A1+ (pronounced as CRISIL A one plus rating), for the company’s Rs. 1000 crore Commercial Paper programme.
Having the look at the financials of the company.The revenue increased by 2.15 percent from Rs. 339.48 crores in Q2FY23 to Rs 346.81 crores in Q2FY24. Further, During the same period,the company incurred Net Loss from Rs 7.86 crores to Rs 41.12 crores.
As per the recent shareholding pattern, The Promoters of the Company own 41.12 percent while retail shareholders own 25.89 percent stake in the company.
The remarkable performance of the company is evidenced by the stock’s 42.58 percent return in six months and 41.17 percent return in just a year.
The main functions of PNB gilts Ltd are to underwrite government securities issuances in order to support government borrowing programs. Additionally, the company trades a variety of fixed-income instruments, including Treasury Bills, Corporate Bonds, State Development Loans, Interest Rate Swaps, and Certificates of Deposits and Commercial Papers, among other money market instruments.
Written By :- Abhishek Singh
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