State-run Punjab National Bank has chosen to cut its deposit rates by 0.25% on select developments of retail term stores.
Also, the bank has reduces deposit rates by 15-50 basis points. The new rates will be implemented from November 23.
The bank had gotten as much as Rs 47,000 crore in extra CASA stores in the course of recent days, Usha Ananthasubramanian apparently said.
"Our CASA stores have surged. This has given me a chance to return to store rates. It will likewise affect loaning rates, yet store rates need to descend initially," included further.
Punjab National Bank is presently exchanging at Rs 142.85, around Rs 6.85 or 4.58% from its past shutting of Rs 149.7 on the BSE.
The scrip opened at Rs 151.25 and has touched a high and low of Rs 151.35 and Rs 142.1 individually. So far (NSE+BSE) shares were exchanged on the counter. The present market top of the organization is Rs 31855.68 crore.
The BSE assemble "A" load of face esteem Rs 2 has touched a 52 week high of Rs 164.3 on 11-Nov-2016 and a 52 week low of Rs 69.4 on 17-Feb-2016. Most recent one week high and low of the scrip remained at Rs 161.2 and Rs 146.4 individually.
The promoters holding in the organization remained at 65.01 % while Institutions and Non-Institutions held 29.32 % and 5.67 % individually.
The stock is presently trading over its 50 DMA.