| Hot Pursuit | Friday, July 27, 2012 12:19 Hrs IST |
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PNB slips as bad loans rise Punjab National Bank fell 1.61% at Rs 744 at 12:23 IST on BSE as bank's ratio of net non-performing assets to net assets rose to 1.68% of net advances as on 30 June 2012 from 1.52% as on 31 March 2012 and 0.86% as on 30 June 2011.
The result was announced during trading hours today, 27 July 2012. Meanwhile, the BSE Sensex was up 309.18 points, or 1.86%, to 16,949. On BSE, 2.59 lakh shares were traded in the counter as against an average daily volume of 73,098 shares in the past one quarter. The stock hit a high of Rs 778 and a low of Rs 740.55 so far during the day. The stock had hit a 52-week high of Rs 1,143.90 on 1 August 2011. The stock had hit a 52-week low of Rs 703.45 on 23 May 2012. The stock had underperformed the market over the past one month until 26 July 2012, sliding 3.13% compared with the Sensex's 1.58% fall. The scrip had also underperformed the market in past one quarter, falling 10.90% as against 2.87% fall in the Sensex. The large-cap bank has an equity capital of Rs 339.18 crore. Face value per share is Rs 10. The ratio of gross non-performing assets (NPA) to gross assets rose to 3.34% as on 30 June 2012 from 2.93% as on 31 March 2012 and 2% as on 30 June 2011. The bank's net profit rose 12.72% to Rs 1245.67 crore on 24.59% growth in total income to Rs 11710.97 crore in Q1 June 2012 over Q1 June 2011. The bank's provisions and contingencies rose 15.55% to Rs 1032.49 crore in Q1 June 2012 over Q1 June 2011. The provisioning coverage ratio was 62.81% as on 30 June 2012. Capital adequacy ratio as per Basel II norms was 12.57% as on 30 June 2012 from 12.63% as on 31 March 2012 and 12.40% as on 30 June 2011. The bank's ratio of return on assets on an annualised basis was 1.08% as on 30 June 2012, 1.28% as on 31 March 2012 and 1.16% as on 30 June 2011. Government of India holds 56.10% stake in Punjab National Bank (as on 30 June 2012).
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