Buy Punjab National Bank, target Rs 74: Abhijit Pathak

Abhijit Pathak of Definedge Solutions has a buy call on Punjab National Bank with a target price of Rs 74. The current market price of Punjab National Bank is Rs 65.3. Time period given by the analyst is Intra Day when Punjab National Bank price can reach the defined target. Abhijit Pathak recommended to keep stoploss at Rs 65. Punjab National Bank, incorporated in 1969, has a market cap of Rs 30455.77 crore.

Punjab National Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 35086.21 Crore to Sales Value (68.38 % of Total Sales), Income From Investment which contributed Rs 14105.97 Crore to Sales Value (27.49 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 1891.39 Crore to Sales Value (3.68 % of Total Sales) and Interest which contributed Rs 226.68 Crore to Sales Value (0.44 % of Total Sales)for the year ending 31-Mar-2019.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 30-06-2019, the company has reported a Consolidated Interest Income of Rs 8949.73 Crore, up .57 % from last quarter Interest Income of Rs 8898.72 Crore and down -4.61 % from last year same quarter Interest Income of Rs 9381.89 Crore. The bank has reported net profit after tax of Rs 1032.23 Crore in latest quarter.