Stellar Q4 & FY23 results: This PSU stock reports a 451 per cent jump in net profit; declares dividend!
Watch out for top 6 funds that might be in focus!
Punjab National Bank is India's first Swadeshi Bank, owned by the Central Government (through the President of India). It announced its Quarterly Results (Q4) and annual results (FY23) for the year ended March 31, 2023. Details below:
Quarterly Results: The net sales increased by 28 per cent, and the net profit increased by 451.11 per cent, with an EPS of Rs 1.70 in Q4FY23 over Q4FY22.
Annual Results: The net sales increased by 14 per cent, and the net profit decreased by 13.27 per cent, with an EPS of Rs 3.05 in FY23 over FY22.
Additionally, the company declared a dividend of Rs 0.65 per equity share (32.5 per cent) of the face value of Rs 2 each for FY 2022-23 and also approved the raising of equity capital by way of issuing up to 15 crore new equity shares of the face value of Rs 2 each to the employees of the Bank through an 'Employees Stock Purchase Scheme.'
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On Friday, shares of PNB zoomed 3.03 per cent to Rs 50.75 per share from its previous closing of Rs 49.26. The stock is up by 70 per cent in 1 year and over 90 per cent in 3 years. The shares of the company saw a spurt in volume by more than 2 times on BSE.
Top 6 mutual funds that might be in Focus:
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Mutual Funds
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AUM (Rs. Cr)
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% of AUM
|
|
Quant Mid Cap Fund(G)
|
1872.1
|
6.69
|
|
Taurus Banking & Fin Serv Fund-Reg(G)
|
9.4
|
5.53
|
|
Aditya Birla SL PSU Equity Fund-Reg(G)
|
1082.7
|
4.69
|
|
SBI PSU Fund-Reg(G)
|
557.4
|
3.4
|
|
Tata Nifty Midcap 150 Momentum 50 Index Fund-Reg(G)
|
55.3
|
2.65
|
|
Edelweiss Nifty Midcap150 Momentum 50 Index Fund-Reg(G)
|
19.9
|
2.64
|
Investors should keep an eye on this PSU large-cap stock under the radar.