Bumper jump in Punjab National Bank’s stock, reached 52-week high
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Let us inform that PNB (Punjab National Bank) has the distinction of being the first indigenous bank of India. As a banking and financial services institution, it is owned by the Government of India. Its headquarter is located in New Delhi.
In the financial statements for the financial year 2022-2023, the total revenue of Punjab National Bank (PNB) has been Rs 86,845 crore. This shows a growth of 13.90% as compared to the previous financial year FY21-22. However, there was a decline of 14.04% in the net profit from FY 2011-22, which closed at Rs 3,359 crore.
Punjab National Bank may not have outstanding financial figures but it has become a multibagger stock giving returns of over 100%. It has seen significant buying activity and has grown by over 104% in the last year.
The central government, represented by the President of India, holds a significant stake of 73.15% in Punjab National Bank (PNB). There is a possibility of further growth in the stock. Investors can include the shares of this public sector bank in their portfolio to earn profits.
This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
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