Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Fitch affirms Punjab National Bank at 'BBB-', Outlook Negative

Posted On: 2021-11-23 14:14:13 (Time Zone: IST)


Fitch Ratings has affirmed Punjab National Bank's (PNB) Long-Term Issuer Default Rating (IDR) at 'BBB-'. The Outlook is Negative. This reflects the Outlook on India's sovereign rating (BBB-/Negative). The agency has also affirmed PNB's Viability Rating (VR) at 'b'. In line with the updated Bank Rating Criteria, we have assigned PNB a Government Support Rating (GSR) of 'bbb-', which drives the IDR.

The operating environment (OE) outlook of Indian banks has been revised to stable from negative, reflecting a better recovery than we expected in business and economic activity following the Covid-19 pandemic second wave. The 'bb' OE score is higher than the implied score of 'b', reflecting our view that India's economy will generate sustainable business growth opportunities.

Economic momentum and regulatory measures should support modest improvements in Indian banks' financial profiles over the next 12-24 months, even though challenges remain.

Fitch is withdrawing PNB's Support Rating and Support Rating Floor as they are no longer relevant to the agency's coverage following the publication of our updated Bank Rating Criteria on 12 November 2021.

Shares of Punjab National Bank was last trading in BSE at Rs. 39.90 as compared to the previous close of Rs. 41.70. The total number of shares traded during the day was 7327300 in over 17707 trades.

The stock hit an intraday high of Rs. 41.80 and intraday low of 39.35. The net turnover during the day was Rs. 295277069.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Edelweiss Financial Services announces Rs. 5,000 million Public Issue of Secured Redeemable NCDs

B N Rathi Securities Ltd fixes Dec 17, 2021 as record date for rights issue

UltraTech Cement Ltd commences mining from Bicharpur Coal Block

Wipro Recognized as 'Gold' Employer by India Workplace Equality Index (IWEI) 2021

India Pesticides Ltd allotted additional land adjacent to Sandila Plant

TCS launches Assessment and Migration Factory for AWS Mainframe Modernization

Oriental Aromatics Ltd board declares interim dividend of Rs. 1.5

Dilip Buildcon Ltd declared as Ll bidder for EPC project in Bilaspur, Himachal Pradesh

Sun Pharma arm DUSA to get $22.5 mn from Biofrontera for settlement of litigation

NIIT's subsidiary, RPS Consulting appoints Francis Jacob as President and Business Head

Maruti Suzuki India Limited increases price of EECO non-cargo variants

Abirami Financial Services India Ltd board to consider monetization of asset

BHEL wins CII-Exim Bank Platinum Awards for Business Excellence

V-Mart Retail Ltd opens one new store in Haryana

Vidli Restaurants Limited board approves rights issue at Rs. 10

Innovators Facade Systems Limited receives order from DLF Group

Infosys collaborates with One of Europe's Greenest Data Centers to accelerate Daimler's transition to Sustainable Mobility

Dharamsi Morarji Chemical Company Ltd to list in NSE from Dec 1, 2021

Fitch affirms Axis Bank at 'BB+', Outlook Negative

TCS helps AGL embrace New AI-powered Operating Model to transform Customer Experience

Dhruv Consultancy Services Limited receives LOA for project worth Rs. 5.04 crore

Arvind Ltd update on Ankur unit

Lupin launches Sciflix a mobile-friendly learning platform for post graduate students specializing in pulmonology

ICRA-assigned Credit Rating for 100.00 crore bank lines of Rane Holdings Limited

ITI Limited installs 100 KW Captive Rooftop Solar Power Plant in Lucknow, Uttar Pradesh

GIC to invest in IRB Infrastructure Developers Limited

Vishvprabha Ventures Ltd Fixes Record Date for Rights Issue of equity shares

Earum Pharmaceuticals Ltd fixes Record Date for Stock Split

ICRA upgrades credit rating of DLF Limited to [ICRA] AA- with Stable outlook

IIFL Home Finance Ltd disbursed loans over Rs. 2500crore, as on 30 September, 2021

Kotak Mahindra Bank reaches One Million FASTags Milestone

Accor renews partnership with IndiGo's 6E Rewards program to offer accelerated travel and stay benefits

Rossari Biotech Ltd. appoints Ketan Sablok as the Group Chief Financial Officer

Vedanta's Sesa Goa Iron Ore Business pledges to become carbon neutral by 2050

CL Educate liquidates third land parcel this year

Reliance Capital Ltd welcomes RBI move to resolve company's debt through IBC

Knowledge Marine & Engineering Works Ltd receives LoA from Vizag Port Trust for patrol boat

Patel Integrated Logistics Ltd board to consider rights shares allotment on Dec 2, 2021

Tatva Chintan Pharma Chem Ltd acquires land at Dahej-III GIDC Estate, Bharuch

Intec Capital Ltd accepts OTS proposal from The Bank of Maharashtra

Sayaji Hotels Ltd arm signs 8 new properties

Coal India Ltd board declares interim dividend of Rs. 9

BSL Ltd updates on credit rating

Ratnamani Metals & Tubes Ltd receives new Domestic Orders of Rs.297.87 Crores

TCS Named a Leader in IDC MarketScape for Worldwide Managed Multicloud Services

James Warren Tea Limited board approves buyback at Rs. 295 through tender offer

Goeld frozen Foods starts operations in Bhopal

Happiest Minds wins Platinum and Gold Awards for its 2021 Annual Report from LACP

Reliance Industries Ltd denies bid for BT

TTK Prestige Ltd fixes Dec 15, 2021 as record date for stock split


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020