Punjab National Bank slips for fifth straight session

Punjab National Bank dropped for a fifth straight session today. The stock is quoting at Rs 102.9, down 0.86% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.71% on the day, quoting at 24224.45. The Sensex is at 77600.28, down 0.74%.Punjab National Bank has lost around 6.16% in last one month.Meanwhile, Nifty Bank index of which Punjab National Bank is a constituent, has increased around 4.84% in last one month and is currently quoting at 58200.7, down 0.57% on the day. The volume in the stock stood at 157.19 lakh shares today, compared to the daily average of 190.55 lakh shares in last one month.

The benchmark July futures contract for the stock is quoting at Rs 103.24, down 1.04% on the day. Punjab National Bank tumbled 7.3% in last one year as compared to a 4.91% slide in NIFTY and a 1.14% spurt in the Nifty Bank index.

The PE of the stock is 7.06 based on TTM earnings ending March 26.

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