India's Punjab & Sind bank jumps on robust Q3 results

Punjab & Sind Bank

16/01/2025 05:39

** Shares of state-owned lender Punjab & Sind Bank  PUNA.NS 
jump 9.44% to 50.65 rupees,
    ** Stock top gainer on public sector banks index
 .NIFTYPSU , which is up 3.3% on the day
    ** Co reports Q3 net profit of 2.82 bln rupees ($32.6 mln),
up 147% YoY
** Net interest margin rises 24 bps YoY to 2.78%; gross
non-performing assets fall 22.76% to Rs 36.75 bln
    ** Trading vols at 8.8 mln shares, 8x the 30 day avg and
highest since end-July 2024
    ** Stock extends 12-month gain to ~14%
     
     
    ($1 = 86.4690 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)
((Ananta.Agarwal@thomsonreuters.com))