Sensex, Nifty continue to trade steady; Tata Power, PNB up post Q2

Public sector lender Punjab National Bank shares price rallied 3.6 percent intraday ahead of September quarter earnings due later today, and post board approval for stake sale in PNB Housing Finance.

According to average of estimates of analysts polled by CNBC-TV18, profit of the bank is likely to decline 33.3 percent year-on-year to Rs 366 crore for the quarter ended September 2017.

Net interest income is seen growing by 0.9 percent year-on-year to Rs 3,913.2 crore.

Meanwhile, the board of directors on Thursday has authorised the management of the bank to partially sell its stake in PNB Housing Finance.

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Posted in: Indian Market Tips