PNB stocks nosedive after reports of further unauthorised transactions

Following a late night regulatory filing by Punjab National Bank (PNB) that upped the fraudulent amount involved in the Nirav Modi-engineered scam to Rs 12,600 crore, the bank's shares nosedived in the bourses on Tuesday.

PNB's shares were trading at Rs 98.15 per share, down 12.29 per cent, at 3 p.m. in the BSE. The scrip had fallen even lower during the intra-day trade to Rs 96.10 per share.

In an 11.22 p.m. late night filing with the stock exchanges on Monday, the bank said: "In continuation to our filing with stock exchanges on February 14, 2018, we have to inform that quantum of reported unauthorised transactions can increase by $204.25 million."

 

--IANS

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