Live Markets »News & Advice»Market News»Market News Details
Market News Details

PNB, Gitanjali Gems, D B Corp among 17 stocks that hit 52-week low

SI Reporter/Mumbai 15 Feb 18 | 03:45 PM

Punjab National Bank (PNB), Gitanjali Gems, Max India, Kwality, D B Corp, Repco Home Finance, Gateway Distriparks and Bhartiya International among 17 stocks among the S&P BSE 500 and Smallcap index hitting their 52-week lows on Thursday.

Besides PNB, total six public sector banks (PSBs) include Allahabad Bank, Corporation Bank, Dena Bank, Oriental Bank of Commerce and Union Bank of India touched 52-week lows on the BSE in intra-day trade on Thursday.

Related Stories

    No Related Stories Found
Widgets Magazine

PNB plunged 14% to Rs 126 in intra-day trade today, extending its Wednesday’s 10% decline, after the state-owned bank yesterday disclosed that it has detected some fraudulent transactions with a financial implication of $1.77 billion (about Rs 113.46 billion) and the matter has been referred to law enforcement agencies for the recovery. The stock finally settled 12% lower at Rs 128 on BSE, as compared to 0.41% rise in the S&P BSE Sensex.

According to media reports, the Enforcement Directorate (ED) is conducting searches at the residences of Nirav Modi and 11 other locations in Mumbai and Delhi in connection with the Rs 2.8 billion fraud of PNB allegedly by Modi and others. CLICK HERE TO READ FULL REPORT

The BSE said the Exchange has sought clarification from PNB with respect to news article appearing on moneycontrol on February 15, 2018 titled "ED raids offices of Nirav Modi, PNB and Gitanjali gems". The reply is awaited.

Gitanjali Gems locked in lower circuit of 20% at Rs 46.90 on BSE with no buyers were seen on the counter. The trading volumes on the counter surged seven-fold with a combined 30.32 million shares changed hands on BSE and NSE. There were pending sell orders for 159,188 shares, the stock exchanges data shows.

Meanwhile, Nifty PSU Bank index ended 1.1% lower today, has fallen 5.8% in past two trading sessions, the Reserve Bank of India (RBI) has come out with a revised framework for resolution of stressed assets on February 12, 2018.

The revised framework aims at creating a structure for banks which will provide early warning signals for stressed accounts and prompt reporting of default. The framework will enable lenders to take timely action for resolution of the stressed accounts and provides for adequate disclosures by banks while putting provision for penal action on banks in case of concealing of any information by banks, CARE Rating said in a note.

While CARE Ratings expects this framework is a positive in the long term, in the medium term this banks will see a spike in their Non-Performing Assets (NPA) over the next couple of quarters.

COMPANYLATEST52 WK LOWPREV LOWPREV DATEALLAHABAD BANK55.1053.1056.0006-Feb-18BHARTIYA INTL.428.00428.00435.0005-Feb-18CORPORATION BANK34.0533.7534.0006-Feb-18D B CORP324.20314.40315.0006-Feb-18DENA BANK22.0521.8022.0006-Feb-18DIAMOND POWER15.8515.6015.8522-Nov-17ELECTROSTEEL ST. DISTR.201.00200.00208.1506-Feb-18GITANJALI GEMS46.9046.9053.0011-Aug-17KWALITY88.5088.0088.1505-Feb-18LAK. VILAS BANK122.50121.00123.8012-Oct-17MAX INDIA104.95102.10106.0006-Feb-18ORIENTAL BANK105.50102.65106.9006-Feb-18PUNJAB NATL.BANK127.15125.55128.3003-Oct-17REPCO HOME FIN558.00549.75552.0009-Nov-17SAI BABA INVT.13.6313.6313.6312-Feb-18UNION BANK (I)119.55118.50118.6506-Feb-18

Widgets Magazine


Company Price Gain (%)
Sun Pharma.Inds.601.656.91
Yes Bank381.752.87
ICICI Bank332.302.17
Axis Bank618.302.15
Reliance Inds.1,210.952.00


Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine