Punjab & Sind Bank shares crack 20% to hit 52-week low today; details here

Shares of Punjab & Sind Bank (PSB) plummeted 20 per cent in Monday's trade to touch a one-year low of Rs 34.81. At this price, the PSU lender's stock has slumped 36.50 per cent in the last six months.

Along with the price action, it recorded heavy trading volume as around 16.03 lakh shares changed hands on BSE. The figure was way more than the two-week average volume of 1.56 lakh shares. Turnover on the counter came at Rs 5.71 crore, commanding a market capitalisation (m-cap) of Rs 23,593.47 crore. In terms of market depth, there were 7.59 lakh buy orders against sell orders of 3.54 lakh shares.

PSB, in a recent exchange filing, said, "The Committee of Directors in its meeting dated March 27, 2025, had approved the issue and allotment of 31,77,98,773 equity shares of face value Rs 10 each to eligible qualified institutional buyers."

It issued a majority of shares to Life Insurance Corporation of India (16.40 per cent), SBI Life Insurance Co Ltd (8.20 per cent), Central Bank of India (6.15 per cent) and Indian Overseas Bank (6.15 per cent).

On technical setup, the scrip traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 28.02. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-equity (P/E) ratio of 16.39 against a price-to-book (P/B) value of 1.35. Earnings per share (EPS) stood at 1.94 with a return on equity (RoE) of 8.24. According to Trendlyne data, PSB has a one-year beta of 1.9, indicating high volatility.

As of December 2024, the government held a 74 per cent stake in the defence PSU. The Nifty PSU Bank index slipped 0.30 per cent to 6,244.65 at the time of writing this story. Other major laggards include UCO Bank, Central Bank, Indian Overseas Bank, Indian Bank and Union Bank of India.