PNB drops after 3-day 7.2% rally

Meanwhile, the BSE Sensex was up 51.09 points or 0.26% at 19,765.33.

On BSE, 53,000 shares were traded in the counter as against average daily volume of 88,867 shares in the past one quarter.

The stock hit a high of Rs 912.45 and a low of Rs 894.60 so far during the day. The stock had hit a 52-week high of Rs 1,091 on 17 February 2012. The stock had hit a 52-week low of Rs 659 on 30 August 2012.

The stock had outperformed the market over the past one month till 2 January 2013, surging 15.23% compared with the Sensex's 1.94% rise. The scrip had also outperformed the market in past one quarter, jumping 8.67% as against Sensex's 4.73% gain.

The large-cap state-run bank has equity capital of Rs 339.18 crore. Face value per share is Rs 10.

Shares of Punjab National Bank (PNB) had rallied 7.32% in three trading sessions to settle at Rs 905.25 on Wednesday, 2 January 2013, from a recent low of Rs 843.50 on 28 December 2012.

Punjab National Bank's net profit fell 11.6% to Rs 1065.58 crore on 15.1% growth in total income to Rs 11326.49 crore in Q2 September 2012 over Q2 September 2011.

The Government of India (GoI) holds 56.1% stake in Punjab National Bank (as per the shareholding pattern as on 30 September 2012).

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