Wednesday, August 8, 2018

PNB reports loss again, stock nose dives




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Scam ridden Punjab National Bank has reported a loss of Rs 940 Cr for June quarter as against a profit of ₹343 crore in the same quarter a year ago.

Nirav Modi and Mehul Choksi have defrauded the bank to the extent of Rs 14,000 Cr. Due to this the bank had reported a loss of Rs 13,000 Cr plus in March quarter.

The stock closed at Rs 83, down 8% in yesterday's trading.

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