PNB Gilts closes at its 52w-High
DSIJ Intelligence / 21 Nov 2016
PNB Gilts is the only listed primary dealer in the government securities, that is also enjoying a major market share. The stock is up by almost 9.89 per cent or Rs 4.20 per share on Monday. The stock shut shop at Rs 46.65 per share thus closing at its new 52w-high.
PNB Gilts is the only listed primary dealer in the government securities, that is also enjoying a major market share. The stock is up by almost 9.89 per cent or Rs 4.20 per share on Monday. The stock shut shop at Rs 46.65 per share thus closing at its new 52w-high.
Uptil yesterday the stock was trading at prices lower than its book value. With the prices surging on Monday the stock now stands slightly above its book value at Rs 45 per share.
Major holding lies with PNB and only 25 per cent is floating shares. With the stock trading at lower P/E multiple of eight the valuations are extremely attractive for the stock and the stock may gain further ground as the P/E expands along with EPS growth.
The stock is up by more than 60 per cent in over one month’s time. The stock price gain on Monday is accompanied with steady volume gains which augurs well for the stock.
With lower interest rate regime easy to predict, investors no doubt will stand to benefit by some exposure in this counter.
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