PNB Gilts hit upper circuit
DSIJ Intelligence / 24 Nov 2016
PNG Gilts, a leading primary dealer in Governement Securities and a subsidiary of Punjab National Bank, has hit upper circuit over the last three days. Its 30-day SMA is at 36.55, indicating bullishness in the stock.
PNG Gilts, a leading primary dealer in Governement Securities and a subsidiary of Punjab National Bank, has hit upper circuit over the last three days. Its 30-day SMA is at 36.55, indicating bullishness in the stock. The shares of the company, which had previously closed at Rs 56.40, opened at Rs 58.20 and at Rs 59.19, it hit the upper circuit. The spike in the stock's volumes is largely due to outstanding results posted by PNG Gilits on October 26.
In Q2, the net profit of the company stood at Rs 70.14 crore, an increase of three times as compared with Q2FY15. The total income from operation stood at Rs 175 crore, an increase of 70 per cent as compared with the corresponding quarter of the previous fiscal. Since Q2 results, the company's share price has zoomed 92 per cent. In the last one year, share price of the company has almost doubled, surging by more than 125 per cent.
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