Domestic markets are likely to react to the Finance Minister s announcements that were aimed at boosting economic recovery, and global trends when they open for trade today. Early indications suggest a muted start for Dalal Street as global trends largely remain sombre, while most analysts are of the view that FM s Rs 6.3 trillion package, a large portion of which is by way of credit guarantee schemes with no immediate outflow, is unlikely to enthuse market much and could only be mildly positive. Some action in stocks from healthcare, tourism, fertilisers and financial sectors on the back of the announcements cannot be ruled out.
Punjab & Sind Bank declares Lanco Infratech as fraud account
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Punjab & Sind Bank declares Lanco Infratech as fraud account
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Punjab & Sind Bank shares jump nearly 7% on Q4 profit
PTI
New Delhi |
Updated on
May 24, 2021
In Q4FY21, the state-run bank turned in a profit following eight consecutive quarters of losses
Shares of Punjab & Sind Bank on Monday jumped nearly 7 per cent as the company turned profitable in the fourth quarter of FY21 after eight consecutive quarters of losses. The stock rallied 6.60 per cent to ₹21.80 on the BSE. On the NSE, it jumped 6 per cent to ₹21.80. The state-run bank turned profitable in the fourth quarter of FY21 after eight consecutive quarters of losses, posting a profit after tax of ₹161 crore on the back of improvement in recoveries and decline in bad loans.