PSU Stocks 13 April 2024 📈💰
Friday (12 April) saw a weak start for the domestic market amid weak global cues. Brokerage firm Motilal Oswal has turned positive on the public sector bank stock PNB amidst the market downturn. The brokerage recommends taking a position in this stock for 2-3 days, with the stock up nearly 40% so far this year. (Punjab National Bank Limited Company Stock)
The domestic market is under pressure from weak global indicators. Major indices are trading in the red. Sensex is at 74,800 and Nifty is at 22,700. IT, banking, and pharma sectors are witnessing a sharp decline, while buying interest is seen in the auto, metal, and realty sectors. Nifty Pharma stocks saw the biggest decline.
Brokerage firm Motilal Oswal has selected Punjab National Bank as a technical pick with a target of 145 rupees for a 2-3 day horizon. The stock closed at 136 rupees on April 10, 2024. This could potentially yield a good return of 7-8% at the current price. The stock has a 52-week high of 138 rupees and a low of 46.80 rupees.
PNB has performed well in the past year, with the stock nearly doubling in value. In the last six months, the stock has seen an 82% increase. It has delivered a 40% return so far this year, with a 2% gain in the past week. The company’s market capitalization on the BSE is over 1.51 lakh crore rupees.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
