Punjab National Bank slips for fifth straight session

Punjab National Bank is down for a fifth straight session today. The stock is quoting at Rs 114.18, down 5.06% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 2.87% on the day, quoting at 24009. The Sensex is at 78668.1, down 2.86%.Punjab National Bank has lost around 5.92% in last one month.Meanwhile, Nifty Bank index of which Punjab National Bank is a constituent, has eased around 4.68% in last one month and is currently quoting at 51350.15, down 2.69% on the day. The volume in the stock stood at 385.3 lakh shares today, compared to the daily average of 360.99 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 114.88, down 4.81% on the day. Punjab National Bank jumped 89.04% in last one year as compared to a 22.51% rally in NIFTY and a 11.45% spurt in the Nifty Bank index.

The PE of the stock is 12.94 based on TTM earnings ending June 24.