PNB Gilts galloped 20% to Rs 22.90 at 11:11 IST on BSE after the company said its promoter Punjab National Bank, holding a majority stake, has initiated the divestment process of its stake in the company.
Both the companies PNB Gilts and Punjab National Bank made seperate announcements to the stock exchanges after market hours in this regard on Friday, 25 July 2008
The stock hit a high of Rs 22.90 and a low of Rs 20.25 so far during the day. The stock had a 52-week high of Rs 54 on 3 January 2008 and a 52-week low of Rs 18.05 on 2 July 2008.
The company’s current equity is Rs 135.01 crore. Face value per share is Rs 10.
PNB Gilts is a 74.07% subsidiary of state-run banking major Punjab National Bank. The company focuses on advisory services and also venturing into debt origination, debt distribution and mutual fund distribution.
The company reported higher net loss of Rs 6.01 crore in Q4 March 2008 as compared to net loss of Rs 10.23 crore in Q4 March 2008. Operating income rose 69.80% to Rs 32.76 crore in Q4 March 2008 over Q4 March 2007.
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