{"id":74964,"date":"2022-11-25T13:47:00","date_gmt":"2022-11-25T08:17:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=74964"},"modified":"2022-11-25T14:44:28","modified_gmt":"2022-11-25T09:14:28","slug":"psu-bank-climbs-25-62-to-reach-a-fresh-52-week-high-heres-why","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/psu-bank-climbs-25-62-to-reach-a-fresh-52-week-high-heres-why\/","title":{"rendered":"PSU Bank climbs 25.62% to reach a fresh 52-week high; here\u2019s why.\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1240611301\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Punjab National Bank (PNB) climbed 9.44% on Friday\u2019s early trades to reach a fresh 52-week high of \u20b9 55.65. They took the winning run to the eighth straight session. The stock rose. In the past eight days, it has gained 25.62%.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3523189349\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The bank on Friday received DIPAM\u2019s approval (the government\u2019s divestment arm) to divest its stake in UTI Asset Management Company in single or multiple tranches. PNB owned a 15.22 per cent stake in UTI Asset Management Company as of September 30 and it is valued at ~ \u20b9 1394 crores.&nbsp;<\/p><p>PNB in a BSE filing said that the value of divestment and the price at which the shares will be divested are yet to be decided. Currently, the State Bank of India, Life Insurance Corporation of India, Bank of Baroda and Punjab National Bank collectively hold 45.16 per cent of the shares of UTI AMC.&nbsp;<\/p><p>In another development, CARE Ratings has revised the outlook for the bank&#8217;s AT-1, Tier II bonds and Infrastructure bonds from &#8216;Stable&#8217; to &#8216;Positive&#8217;.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2228914380\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;The \u2018Positive\u2019 outlook reflects CARE Ratings\u2019 expectation of improvement in profitability and asset quality parameters in the medium term along with comfortable capitalisation by the bank. In the last two years ended March 31, 2022, and H1FY23, the bank witnessed a significant reduction in both, GNPA and NNPA. CARE Ratings expects the same to continue going forward,&#8221; CARE Ratings said.&nbsp;<\/p><p>The rating agency added that PNB has seen improvement in the capitalization levels with a significant cushion over the regulatory requirement.&nbsp;<\/p><p>PNB\u2019s shares were trading at \u20b9 54.20 apiece at 12:46 PM on Friday. Brokerage firm Sharekhan has a buy rating on the stock with a target price of \u20b9 64. This implies an upside of 18.08% as compared to its share price.&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2640254495\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Punjab National Bank (PNB) climbed 9.44% on Friday\u2019s early trades to reach a fresh 52-week high of \u20b9 55.65. They took the winning run to the eighth straight session. The stock rose. In the past eight days, it has gained 25.62%.&nbsp; The bank on Friday received DIPAM\u2019s approval (the government\u2019s divestment arm) [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-74964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSU Bank climbs 25.62% to reach a fresh 52-week high; here\u2019s why.\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/psu-bank-climbs-25-62-to-reach-a-fresh-52-week-high-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSU Bank climbs 25.62% to reach a fresh 52-week high; here\u2019s why.\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of Punjab National Bank (PNB) climbed 9.44% on Friday\u2019s early trades to reach a fresh 52-week high of \u20b9 55.65. 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