*TO RAISE 12000 CR: PUNJAB NATIONAL BANK* TP 250

MD Sunil Mehta has stated that country's second largest state run lender PNB is looking to _raise 12000 Crores selling real estate including its headquarters, dilute it's stake in PNB Housing Finance and exit mutual fund business_

Mehta said bank has received permission to sell its 20% stake in PNB Asset Management while reducing its stake in PNB Housing Finance *by 9% from current 39%*. Mehta also said that bank has started process of selling various real estate assets

*AVAILABLE AT 1XBOOK VALUE MOTILAL OSWAL HAS RAISED TP FROM 184 TO 250*

With stronger Balance Sheet, PNB is expected to get large amount from recapitalisation scheme

Best buy in PSU banks