PNB drops after declaring Q2 result

Punjab National Bank lost 3.45% to Rs 923.80 at 12:41 IST on BSE after net profit rose 13.81% to Rs 575.34 crore on 11.92% rise in total income to Rs 13020.46 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced during market hours today, 21 October 2014.

Meanwhile, the BSE Sensex was down 4.85 points, or 0.02%, to 26,425

On BSE, so far 3.21 lakh shares were traded in the counter, compared with an average volume of 1.14 lakh shares in the past one quarter.

The stock hit a high of Rs 975.35 and a low of Rs 918.70 so far during the day. The stock hit a 52-week high of Rs 1,068 on 26 May 2014. The stock hit a 52-week low of Rs 473.50 on 29 October 2013.

The stock had outperformed the market over the past one month till 20 October 2014, falling 2.09% compared with 2.44% fall in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 3% as against Sensex's 3.07% rise.

The large-cap bank has an equity capital of Rs 362.07 crore. Face value per share is Rs 10.

Government of India holds 58.87% in the bank as at 30 September 2014.

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