PNB Gilts slides after poor Q3 numbers

PNB Gilts lost 6.3% to Rs 23.05 at 14:35 IST on BSE after net profit fell 73.1% to Rs 3.63 crore on 17% decline in total income to Rs 78.92 crore in Q4 March 2016 over Q4 March 2015.

The result was announced at the fag end of trading session yesterday, 16 May 2016. The stock had risen 1.65% to settle at Rs 24.60 on that day.

Meanwhile, the S&P BSE Sensex was up 214.08 points or 0.83% at 25,867.31.

On BSE, so far 54,000 shares were traded in the counter as against average daily volume of 19,718 shares in the past one quarter. The stock hit a high of Rs 23.90 and a low of Rs 22.90 so far during the day. The stock had hit a 52-week low of Rs 21.85 on 12 February 2016. The stock had hit a 52-week high of Rs 31.75 on 3 August 2015. The stock had outperformed the market over the past one month till 16 May 2016, gaining 0.2% compared with the Sensex's 0.1% rise. The scrip had, however, underperformed the market in past one quarter, advancing 6.96% as against Sensex's 10.61% rise.

The small-cap company has equity capital of Rs 180.01 crore. Face value per share is Rs 10.

PNB Gilts, a subsidiary of Punjab National Bank, supports government borrowing program via underwriting of government securities issuances and trade in a gamut of fixed income instruments such as government securities, treasury bills, state development loans, corporate bonds, interest rate swaps and various money market instruments such as certificates of deposits, commercial papers etc.

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