Punjab National Bank (PNB) has recently joined the top-50 most valuable listed stocks in terms of market capitalization. This milestone was achieved after PNB’s shares rallied 6% to Rs 125.75, reaching a six-year high on the Bombay Stock Exchange (BSE) during Friday’s intraday trade.
PNB is ranked at 49th place with mcap of Rs.138078.14 crore. The mcap of Bank of Baroda is Rs.131999.02 crore.
PNB’s current trading level is the highest it has been since February 2018. Over the past seven trading days, the state-owned bank has experienced a surge of 27% in its share price. This increase can be attributed to PNB raising its profit guidance for the current financial year 2023-24 (FY24) to Rs 7,000-7,500 crore. Previously, the bank had set a profit estimate of Rs 6,000 crore for the ongoing fiscal year.
Top 50 companies by Mcap
