Buy Punjab National Bank, target Rs 88: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Punjab National Bank with a target price of Rs 88. The current market price of Punjab National Bank is Rs 82.1. The time period given by the analyst is Intra Day when Punjab National Bank price can reach the defined target. Kunal Bothra recommended to keep stop loss at Rs 79.

Punjab National Bank, incorporated in 1969, is a banking company with a market cap of Rs 22664.31 crore.

Punjab National Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 32958.82 Crore to Sales Value (69.71 % of Total Sales), Income From Investment which contributed Rs 12577.17 Crore to Sales Value (26.60 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 1354.20 Crore to Sales Value (2.86 % of Total Sales) and Interest which contributed Rs 385.80 Crore to Sales Value (0.81 % of Total Sales)for the year ending 31-Mar-2017.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 86620.05 Crore (18.38 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 48684.29 Crore (11.24% of total assets). For the quarter ended 31-03-2018, the company has reported a Standalone Interest Income of Rs 7410.78 Crore, down -9.84 % from last quarter Interest Income of Rs 8219.30 Crore and down -3.99 % from last year same quarter Interest Income of Rs 7718.74 Crore. The bank has reported net profit after tax of Rs -13416.91 Crore in latest quarter.