PNB Gilts hit record high; soars 44% in three days

PNB Gilts jumped 13.62% to 85.95, extending its winning run to third consecutive session.

Shares of PNB Gilts have rallied 44.7% in three trading days from its previous closing low of Rs 59.40 on 28 May 2021. The counter hit a record high of Rs 86.80 in intraday today. The stock has soared 219% from its 52-week low of Rs 26.90 hit on 2 June 2020.

In last one month, PNB Gilts has jumped 65% compared with 6% rise in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 89.053. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 54.21 and 51.79 respectively. These levels will act as crucial support zones in near term.

PNB Gilts trades in government dated securities, treasury bills, bonds of sector enterprises, government guaranteed bonds, and state government securities. The company also deals with money market operations, including call/notice and term money, short term borrowing, bill discounting, and certificates of deposit.

The company reported a 278% in net profit to Rs 167.07 crore on a 49.1% rise in total income to Rs 323.07 crore in Q3 FY21 over Q3 FY20.

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