CMP: 803

Punjab National Bank provides financial services such as corporate and personal banking, industrial finance, agricultural finance, financing of trade and international banking. The Company provides services to domestic conglomerates, medium and small industrial units, exporters, non-resident Indians and multinational companies.

Its now rally time for PSU Banks. PNB is a safe bet in large-cap space currently trading at a P/E of little over 5. Good dividend yields of almost 3% in the last 12 months. Revenues have risen from 14,265 Crores to 36,428 Crores in the last 5 years. Profits have risen from 2048 Crores to 4884 Crores. NPM has dipped from 14% to less than 11% over the last 5 years. Buy and hold for long term gains.