Breaking News

PNB Q3: Big miss

PNB had reported NP of 559 cr for Q2.
And Bloomberg estimate for Q3 is 613 cr
However, denofwealth estimates that bank has suffered heavily in Q3 due to less recovery of NPAs ( overload of Notebandi burden), higher interest outgo on huge cash deposits and additional slippages

We estimate that *NP should be 230cr vs Bloomberg 613 vs Q2 559cr*

_Moreover, due to irrational exuberance, stock is nearly 30% up from 1 month low of 115_

Worth SHORT SELLING

TP: can be 135 Feb Expiry