Key Points
Stock market today: Shares of Punjab National Bank (PNB) today opened with an upside gap on Thursday as the market is expecting healthy profitability of the PSU bank during the October to December 2023 quarter..
PNB is going to declare its Q3 results today and the market believes that the state-owned bank may report improvement in NIMs and asset quality..
According to stock market experts, the PNB share price is facing a hurdle at 105 to 106 zone and on breaching this hurdle, the PSU stock may go up to 120 apiece level in the short term...
On the kind of Q3FY24 results that PNB may report today, Shreyansh V Shah, Research Analyst at StoxBox said, "Punjab National Bank has come a long way from a sharp deterioration in its asset quality to stable asset quality in the past few quarters from GNPA and NNPA of 11.78% and 4.80% respectively in March-22 to 6.96% and 1.47% in September-23..
Expecting further rally in PNB share price, Sumeet Bagadia, Executive Director at Choice Broking said, PNB share price is looking positive on chart pattern and it has made a strong base at 98 per share level..
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