/ PNB Gilts Soars By 5% Due To Excellent Q3 Results ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 30 January 2017

PNB Gilts has come out with its Q3 numbers on Monday, wherein the company's total income stands at Rs 166 crore vs 90.2 crore (YoY); and PAT stands at Rs 66 crore vs 9 crore (YoY).

The stock is up by 5% or Rs 2.45 per share, trading at Rs 54.45, and has been in limelight since one year, delivering returns of 123.31%, as well as outperforming the BSE Small-cap index and the Nifty Financial services index over a period of one year.

Softening of interest rates has led to upsurge in demand for gilt-edged securities, leading to increased profits for PNB Gilts, moreover the stock will remain in the investors' watch list owing to further softening of interest rates.

PNB Gilts is a subsidiary of one of the largest commercial banks, Punjab National Bank, with its primary activities entailing borrowing via underwriting of government securities issuance, and trading in a gamut of fixed income instruments such as government securities, treasury bills, state development loans, corporate bonds, interest rate swaps and various money market instruments such as Certificates of Deposits, Commercial Papers, etc.

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