PNB retreats from 52-week high amid volatility after declaring Q4 results

Punjab National Bank gained 2.96% to Rs 859.45 at 12:08 IST on BSE, with the stock retreating from 52-week high after the bank announced poor Q4 result during market hours today, 13 May 2014.

The result was announced during market hours today, 13 May 2014.

Meanwhile, the BSE Sensex was up 516.92 points, or 2.19%, to 24,067.92

On BSE, so far 3.11 lakh shares were traded in the counter, compared with an average volume of 1.66 lakh shares in the past one quarter.

The stock turned volatile after declaring result during market hours today, 13 May 2014. The stock surged as much as 5.13% at the day's high of Rs 877.60 so far during the day, also its 52-week high. The stock fell as much as 0.66% at the day's low of Rs 829.20 so far during the day. The stock hit a 52-week low of Rs 402.20 on 4 September 2013.

The stock had outperformed the market over the past one month till 12 May 2014, rising 7.26% compared with 4.07% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 52.09% as against Sensex's 15.17% rise.

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

Punjab National Bank (PNB)'s net profit declined 28.69% to Rs 806.35 crore on 8.18% growth in total income to Rs 12498.23 crore in Q4 March 2014 over Q4 March 2013.

PNB's net profit declined 29.59% to Rs 3342.57 crore on 3.66% growth in total income to Rs 47799.96 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

PNB's ratio of net non-performing assets (NPAs) to net advances rose to 2.85% as of 31 March 2014, from 2.8% as on 31 December 2013 and 2.35% as on 31 March 2013.

The bank's ratio of gross NPAs to gross advances rose to 5.25% as on 31 March 2014, compared with 4.96% as on 31 December 2013 and 4.27% as on 31 March 2013.

The bank's provisions and contingencies surged 44.73% to Rs 2138.69 crore in Q4 March 2014 over Q4 March 2013. The provision coverage ratio as on 31 March 2014 was 59.07%.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 11.52% as on 31 March 2014, compared with 11.02% as on 31 December 2013.

The Government of India owned 58.87% stake in Punjab National Bank (as per the shareholding pattern as on 31 March 2014).

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