Punjab National Bank's shares fall as much as 4.7 per cent to ₹85.1, in their biggest intraday per cent drop since May 13. The state-run lender's March-quarter loss narrows by 2.8 times to ₹4,750 crore ($681.79 mln), but misses estimates for profit of ₹166 crore.
Also read: PNB Q4 results
The stock of PNB ended 3.47 per cent lower at Rs 86.20
Provision coverage ratio increases to 74.5 per cent at end-March from 58.42 per cent a year ago. Fresh slippage of ₹6,70 crore in Q4. Exposure to Jet Airways Ltd less than ₹900 crore, banks executive said in press conference.
About 76.7 million shares change hands by 0913 GMT, compared with 30-day average of ~25.1 million shares. Peers Bank of India Ltd posted a quarterly profit, while Canara Bank Ltd's loss narrowed in same period.
Up to last close, PNB stock up 14.3 per cent this year ($1 = ₹69.6700)