Shares of Punjab National Bank (PNB) extended gains for the fourth straight session to hit their 52-week high today, on the back of strong Q3FY24 results and a fundraising plan. Despite this, Elara retained its ‘sell’ call on the lender.
Punjab National Bank released its Q3FY24 results today, posting a 253% YoY jump in its net profit to ₹2,223 crore. Its pre-provision operating profit (PPoP) stood at ₹6,331 crore in Q3FY24, registering a growth of 10.75% YoY.