Punjab National Bank is currently trading at Rs. 886.60, up by 3.05 points or 0.35% from its previous closing of Rs. 883.55 on the BSE.
The scrip opened at Rs. 884.00 and has touched a high and low of Rs. 889.00 and Rs. 873.25 respectively. So far 27,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1091.00 on 17-Feb-2012 and a 52 week low of Rs. 659.00 on 30-Aug-2012.
Last one week high and low of the scrip stood at Rs. 911.85 and Rs. 872.40 respectively. The current market cap of the company is Rs. 30,071 crore.
The promoters holding in the company stood at 56.10% while Institutions and Non-Institutions held 38.00% and 5.90% respectively.
Punjab National Bank has acquired 30% stake in Metlife India Insurance Company. Earlier, bank had received all regulatory approvals for acquiring 30% stake in Metlife India Insurance. Following this, the private sector life insurer would be re-branded as PNB Metlife India. The bank had received all regulatory approvals, including CCl's, for acquiring 30% stake in Metlife India Insurance. Both PNB and MetLife India had approached the fair trade regulator Competition Commission of India (CCI) for approval on December 7, 2012.
On closing of the transaction, the company will be re-branded. State-run PNB had announced picking up of 30% stake in MetLife India Insurance for an undisclosed sum in 2011.
As per the terms of the deal, US-based MetLife will have an arrangement with the existing shareholders and will raise its stake to 26% within 120 days of operationalisation of the deal. Currently, MetLife India stakeholders, include Jammu and Kashmir Bank, Shapoorji Pallonji and other investors, besides MetLife. It is to be noted that PNB in 2010 decided to part ways with its foreign partner Principal Financial Group in a proposed life insurance joint venture it set up four years ago. PNB bought the entire 26% stake held by Principal Financial Group and the 32% participating interest of domestic firm UK (Berger) Paints in Principal PNB Life Insurance Company Ltd. PNB''s stake in the proposed joint venture was 30%, while that of Vijaya Bank was 12%.
| Company Name | CMP |
|---|---|
| SBI | 754.00 |
| Bank Of Baroda | 221.95 |
| Canara Bank | 94.70 |
| PNB | 98.25 |
| Union Bank Of India | 106.05 |
| View more.. | |
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