Punjab & Sind Bank shares jump 13% though NIFTY PSU Bank declines over 1%; here is why

At 10:48 AM, shares of Punjab & Sind Bank were trading at ₹47.70 apiece, rising 6.81% on the National Stock Exchange (NSE).

The bank’s board approved and adopted the preliminary placement document dated March 24, 2025, together with the application form in connection with the issue.

The board has also approved the floor price of the issue at ₹40.38 based on the pricing formula as prescribed by market regulator Sebi regulations.

Punjab & Sind Bank may offer a discount of not more than 5% on the floor price so calculated for the issue.

In the last five trading sessions, Punjab & Sind Bank shares have surged almost 7%. Over the last month, the scrip has gained 12.7%, while for a 6-month period, from September 25, 2024, it has lost 14.23%.

Further, since March 25, 2024, the share of the bank has tumbled over 17%.

During the intraday period, Punjab & Sind Bank shares had outperformed the Nifty PSU Bank sector, which was down 1.06%. It was the top contributing stock in the sector.

According to NSE data, its market capitalisation stood at ₹32,350.37 crore.

The Delhi-headquartered bank had reported a more than twofold jump in its net profit to ₹282 crore in the December 2024 quarter as bad loans declined. It had earned a net profit of ₹114 crore a year ago.

Punjab & Sind Bank's total income increased to ₹3,269 crore during the quarter under review against ₹2,853 crore in the same period last year, said a regulatory filing.

The interest income also rose to ₹2,931 crore compared to ₹2,491 crore in the year-ago period.

On the asset quality front, gross non-performing assets (NPAs) declined to 3.83% of the gross loans by the end of December 2024 from 5.70% a year ago.