InvestorQ : What should I do on pnb down?
Ramu kumar made post

What should I do on pnb down?

Rutuja Nigam answered.
2 years ago

PNB has a number of problems still working against it. The company continues to face stress on the asset quality front. This is evident in the latest quarter results also. The stock is quoting close to its full year low and there are too many uncertainties including the $2 billion it took a hit in the Nirav Modi case.

If you are looking at the banking space, you would be better off buying into stocks like BOB or SBI in the PSU banking space as they have less of a NPA problem to worry. The NPA issue is still quite acute in PNB and it is a stock better avoided unless you are able to see the gross NPAs come well below the 7% mark.