Buy PNB With Target Of Rs 1340

Buy PNB With Target Of Rs 1340Sushil Finance is bullish on Punjab National Bank (PNB) and has recommended 'buy' rating on the stock with a target of Rs 1340 in its latest research report.

According to Sushil Finance, the interested investors can buy the stock above Rs 1325 with a stop loss of Rs 1318.

The stock of the banking institution, on Oct 07, closed at Rs 1316.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1332.70 and a low of Rs 816.85 on BSE.

Current EPS & P/E ratio stood at 128.76 and 10.27 respectively.

Punjab National Bank (PNB) is eyeing to issue around 400,000 smart cards in the poverty-stricken Sonbhadra region of UP.

These smart cards would ease payments under the Mahatma Gandhi National Rural Employment Guarantee Scheme to the residents.

PNB had already allotted 112,000 smart cards in Sonbhadra under a pilot project and the aim is to hit 400,000 mark.

Punjab National Bank's Nepal-based JV, Everest Bank Ltd (EBL), is now planning to foray into the microfinance section in the Himalayan republic.

Everest Bank Ltd is among 24 finance organisations, which have applied to Nepal Rastra Bank, the republic's banking watchdog, to commence microfinance firms in order to take banking services to the rustic regions of Nepal.