PNB Share Price Rises to ₹101.5 on December 24, 2024

On December 24, 2024, Punjab National Bank’s share price opened at ₹101.75, down from its previous close of ₹101.40. By 1:50 PM, the share price of PNB was trading at ₹101.50, up by 0.10% on the BSE. The stock touched a day high of ₹102.20 and a low of ₹100.80 during the day. The market cap of the company stood at ₹1,16,078.73 crore.

Recent Business Developments

As per news reports, Mahindra Tractors, a division of Mahindra & Mahindra Ltd, announced a partnership with Punjab National Bank to offer channel financing solutions for its dealers. The companies have formalised the collaboration through a Memorandum of Understanding (MoU).

Under this arrangement, all Mahindra Tractors dealers with at least one year of business experience are eligible to access the channel finance facility. This initiative provides a credit limit of up to ₹5 crore, with evaluations based on 105 days of sales.

Dealers will benefit from a credit term of 105 days, with an additional 15-day grace period, and will receive 100% financing for their Mahindra & Mahindra invoices without the need for margin requirements, the news report stated.

Q2 FY 2025 Financial Highlights

For the quarter ended September 30, 2024, Punjab National Bank reported a significant growth in its financial performance, with a 145% year-on-year increase in net profit, rising to ₹4,303 crore, up from ₹1,756 crore in Q2 FY24.

The bank’s net interest income (NII) also saw a healthy increase of 5.99% year-on-year basis, reaching ₹10,517 crore compared to ₹9,923 crore in the same period last year.

The improvement in asset quality was notable, as the bank’s gross non-performing asset ratio declined by 248 basis points YoY to 4.48%, while the net non-performing asset ratio improved by 101 bps YoY to 0.46%.

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