Tuesday, November 17, 2009

Buy PNB

PNB’s 1HFY10 performance has been by far the best among PSU banks with strong business growth coupled with improved margins.

“While an extensive branch network should continue to aid PNB to deliver robust business growth, the relatively high CASA ratio should ensure better NIMs, compared to its peers. The technology initiatives (100% CBS implementation) along with prudent lending practices would also help towards keeping costs under check and maintain asset quality,” says Kapur.

OUR RECOMMENDATION :

Investors should buy on dips for a target of 1200 in a 12 months time frame.

Bought to you by

Ingenious Investor
Equity Research Division

Ravina Consulting
No.429 Mahavir Tuscan
Near Hoodi Circle, Whitefield
Mahadevapura Post
BANGALORE 560048
+91.9880080321

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