Stock Watch - Punjab National Bank

Punjab National Bank is one of the leading PSU bank , which has the distinction of first Indian bank to have been started solely with Indian capital.

Positives
..Dominant player in the Indo-Gangeticplain, which is economically well-off.
..Strong liability franchise with around 39% of CASA (low cost deposits)
..Among few banks in PSU space having strong growth in fee income.
..Asset quality has improved significantly in last 2-3 quarters.
..More than 4000 branches on CBS platform, covering around 99% of its total business.

Risks
..Ripple effect of financial crisis in US & Europe
..Downside risk arises from hard-landing of our economy
..Deterioration in the asset quality, if any, would require higher provisioning.

At current price of around Rs.400,the stock trades price to book of less than one and 6 times FY09 earnings. Long term investors can accumulate on declines,for good returns.

NSE Trading Holidays 2024

Trading holidays for the calendar year 2024. The National Stock Exchange of India (NSE) has notified trading holidays for the calendar year 2024 as below: Muhurat Trading: Timings of Muhurat Trading shall be notified subsequently.

Historical BSE Sensex returns - updated 2013

We have already seen the historical returns of the BSE Sensex, which indicated an average return of about 20% per year, despite many yearly returns varying from -20% to +60%. The following table shows BSE Sensex historical data - open, close and the yearly returns of the sensex from 2000 to 2012. There are some interesting points to note from the above table. Post 2008 crash of about 50% and 2011 negative returns of 24%, markets have given positive returns of 81% and 25%. Also the average returns for the past years is about 20% despite the markets being down 24%. The lesson is pretty much clear - long term investing pays and one need not bother too much about the ups and downs of the markets. During the past few years, the returns from investing in individual stocks have been varied. Despite markets being at 2 year highs, only a few stocks are at similar highs, while most of them are still languishing well below their historical highs and are down anywhere between 8

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