PNB enters top 50 most-valuable stocks' club; overtakes BOB in market cap

Punjab National Bank joined the top-50 most-valuable listed stocks, in terms of market capitalisation (market cap), after its shares rallied 6 per cent to Rs 125.75, hitting a six-year high on the BSE in Friday's intraday trade.

Currently, PNB is trading at its highest level since February 2018. In the past seven trading days, it has surged 27 per cent after the state-owned bank raised its profit guidance to Rs 7,000-7,500 crore for the current financial year 2023-24 (FY24). Earlier, the second largest lender had set a profit estimate of Rs 6,000 crore for the ongoing fiscal, PTI reported.

A sharp rally