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PNB shares in focus as PSU bank stocks rally

Original: pnb share price

Punjab National Bank's share price is drawing attention as public sector bank stocks rally up to 8%, even as private lenders like HDFC Bank and Axis Bank fall up to 5% following second-quarter results. PNB CEO Ashok Chandra said the bank is targeting a quarterly profit of Rs 6,000 crore in coming quarters and expects credit growth to add up to 2% this quarter.

Why now: Indian investors are tracking PNB's stock amid a divergence between surging PSU bank shares and falling private bank shares after Q2 results.

Punjab National BankAshok ChandraHDFC BankAxis Bank

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Evidence

• PSU bank stocks soar up to 8%, but HDFC, Axis and other private lenders fall up to 5% after Q2 results. Wh · The Economic Times
• PNB eyes Rs 6,000 crore quarterly profit in coming quarters, says CEO Ashok Chandra · Moneycontrol.com
• Credit growth likely to see addition up to 2% in the ongoing quarter, says PNB MD Chandra · BusinessLine

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