PNB Gilts has declared that a meeting of the board of directors of the company will be held on Apr. 21, 2008.

The company’s board will meet to approve the unaudited financial results for the quarter/year ended Mar. 31, 2008 and to consider the payment of interim dividend for the financial year 2007-08.  
 
For the quarter ended December 2007, the company recorded a 67.92% growth in net profit to Rs 199.10 million as against Rs 118.57 million during the same period of the last year.
   
In the year 1996 RBI introduced the system of Primary Dealers with a view to fortify the institutional infrastructure of Government Securities market. Six entities were provided licenses of which PNB Gilts was one. The Company was set up as a wholly owned subsidiary of Punjab National Bank with an initial paid up capital of Rs 50 crores which is also the minimum capital requirement for a Primary Dealer.

Company has been pioneer in retailing of Government Securities contributing to a deep and broad-based market. The Marketing Department specifically caters to select segments viz. Provident Funds, Trusts, Regional Rural Banks, Co-operative Banks, Corporates & Individuals to create awareness and encourage healthy investment practices.

Shares of the company, on Friday (April 11) closed down Rs 0.15 at Rs 26. The total volume of shares traded was 48,922 at the BSE. The share price has also seen a 52-week high of Rs 54 and a low of Rs 18.05.