NEW DELHI: Shares of Punjab National Bank (PNB) tumbled over 7 in step with cent on Monday, extending the autumn for a fourth immediately session following the Rs 11,400-crore fraud at one its Mumbai branches.
The stock opened lower and slumped additional 7.16 in step with cent to its 52-week low of Rs 116.65 on BSE. At NSE, stocks of the corporate dived 6.77 in step with cent to hit a one-year low of Rs 117.05.
In 4 buying and selling sessions, the stock has misplaced just about 28 in step with cent and suffered an erosion of Rs 10,781.12 crore from its marketplace capitalisation. Meanwhile, stocks of PNB Housing slipped 1.36 in step with cent to Rs 1,184.35 on BSE.
On Wednesday ultimate week, PNB said it detected a fraud by which diamond jewellery dressmaker Nirav Modi allegedly got fraudulent letters of undertaking (LoUs) from one its branches for in a foreign country credit score from different Indian lenders, and is being probed by means of CBI and Enforcement Directorate amongst different companies.
The stock opened lower and slumped additional 7.16 in step with cent to its 52-week low of Rs 116.65 on BSE. At NSE, stocks of the corporate dived 6.77 in step with cent to hit a one-year low of Rs 117.05.
In 4 buying and selling sessions, the stock has misplaced just about 28 in step with cent and suffered an erosion of Rs 10,781.12 crore from its marketplace capitalisation. Meanwhile, stocks of PNB Housing slipped 1.36 in step with cent to Rs 1,184.35 on BSE.
On Wednesday ultimate week, PNB said it detected a fraud by which diamond jewellery dressmaker Nirav Modi allegedly got fraudulent letters of undertaking (LoUs) from one its branches for in a foreign country credit score from different Indian lenders, and is being probed by means of CBI and Enforcement Directorate amongst different companies.
PNB loses Rs 10,781 crore in mcap in 4 days; shares tank
![PNB loses Rs 10,781 crore in mcap in 4 days; shares tank]()
Reviewed by Kailash
on
February 19, 2018
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