Sell Punjab National Bank, target price Rs 32: Emkay Global

Emkay Global has sell call on Punjab National Bank with a target price of Rs 32. The current market price of Punjab National Bank is Rs 36.95. Time period given by analyst is one year when Punjab National Bank price can reach defined target.

Punjab National Bank, incorporated in the year 1969, is a banking company (having a market cap of Rs 40685.70 Crore).

Punjab National Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 22273.40 Crore, up 3.13 % from last quarter Total Income of Rs 21597.11 Crore and down -5.78 % from last year same quarter Total Income of Rs 23639.41 Crore. The bank reported net profit after tax of Rs 1249.87 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 73.15 per cent stake in the company as of 31-Dec-2021, while FIIs owned 1.19 per cent, DIIs 11.6 per cent.