Punjab National Bank cuts MCLR rates for December

India Infoline News Service | Mumbai | December 01, 2016 11:19 IST

The bank has reduced the marginal cost of funds based lending rate with effect from December 1, 2016, it said in a regulatory filing.

Punjab National Bank has cut the marginal cost of funds based lending rate (MCLR) by 0.05-0.10 percentage points for December across maturities of various tenors. The bank has reduced the marginal cost of funds based lending rate with effect from December 1, 2016, it said in a regulatory filing. For a tenor of 5 years, the new MCLR is down by 0.05% to 9.45%.
 
Stock Commentary:

Punjab National Bank is currently trading at Rs 137.2, down by Rs 1 or 0.72% from its previous closing of Rs 138.2 on the BSE.

The scrip opened at Rs 138.4 and has touched a high and low of Rs 139.45 and Rs 136.7 respectively. So far 3350600(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 29408.52 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 164.3 on 11-Nov-2016 and a 52 week low of Rs 69.4 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs 141.75 and Rs 133.6 respectively.

The promoters holding in the company stood at 65.01 % while Institutions and Non-Institutions held 29.32 % and 5.67 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

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