{"id":80396,"date":"2022-12-30T13:15:00","date_gmt":"2022-12-30T07:45:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=80396"},"modified":"2022-12-30T13:33:14","modified_gmt":"2022-12-30T08:03:14","slug":"multibagger-bank-stock-gains-ahead-of-board-meeting","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/multibagger-bank-stock-gains-ahead-of-board-meeting\/","title":{"rendered":"Multibagger Bank stock hits upper circuit as it plans to raise \u20b9 250 crores \u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-287502291\"><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 <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/PSB\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab and Sind Bank<\/a><\/strong> inched up by 4 percent in the early hours on Friday as the stock was trading at Rs 33.35 levels. The stock jumped ahead of the board meeting scheduled today i.e, December 28th, 2022 to consider a proposal for raising funds of up to Rs 250 Crore by various modes, including equity and bonds issuance.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4210536067\"><!-- 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>In addition to this, the company has also an agreement with SBI Cards and Payment Services, the country\u2019s largest pure-play credit card issuer, to launch co-branded credit cards. The collaboration also marks the introduction of \u2018credit cards\u2019 as a new product segment under the bank\u2019s portfolio.&nbsp;<\/p><p>Punjab &amp; Sind Bank is a Public Sector Bank that majorly caters to the economically weaker sections and Small and Medium Scale Enterprises (SMEs). The bank has a pan-India presence with 1528 branches and 803 ATMs across the country.&nbsp;<\/p><p>The stock has been gaining this entire month and zoomed by approximately 60 percent. The stock price has risen from Rs 16.3 in November to the current levels logging a multibagger return of 104 percent in the span of just two months.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3276074480\"><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>The stock majorly rallied in the last two months majorly on the back of strong quarterly results. In Q2FY23, the bank reported a total income of Rs 2,120.17 crore as against Rs 1,974.78 crore in the same period a year earlier. The net profit stood at Rs 278 crore which increased from Rs 218 crore in Q2FY22.&nbsp;<\/p><p>In addition to that, the stock kept growing as the bank announced aggressive expansion plans, along with goals to reach a CASA ratio of 35 percent by March, and expectations of Rs 1,100 crores in profits this year on the back of bad loan resolutions.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Anoushka Roy<\/strong><\/p><\/blockquote><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2558569793\"><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 and Sind Bank inched up by 4 percent in the early hours on Friday as the stock was trading at Rs 33.35 levels. The stock jumped ahead of the board meeting scheduled today i.e, December 28th, 2022 to consider a proposal for raising funds of up to Rs 250 Crore by [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24849,"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":[31,1789],"tags":[2508,3464,2660,3913,3912,2838,3771,2843,2659,948,936,3153,3157,3158,2597,2599],"class_list":["post-80396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-bank-stocks","tag-multibagger-returns","tag-multibagger-stock","tag-multibagger-stock-to-buy","tag-multibagger-stock-to-watch","tag-multibagger-stocks","tag-multibagger-stocks-2022","tag-multibagger-stocks-india","tag-multibaggers","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stock-to-watch-in-2022","tag-stocks-to-watch","tag-stocks-to-watch-in-2022"],"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>Multibagger Bank stock hits upper circuit as it plans to raise \u20b9 250 crores \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\/multibagger-bank-stock-gains-ahead-of-board-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multibagger Bank stock hits upper circuit as it plans to raise \u20b9 250 crores \u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of Punjab and Sind Bank inched up by 4 percent in the early hours on Friday as the stock was trading at Rs 33.35 levels. 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