PNB (Punjab National Bank) is another under performer recently post its result debacle, NPA concerns and capitalization issues. But PNB is fast deleveraging its non-core assets to address the balance sheet concerns and as a result of insurance bill yesterday, it may be one of the direct beneficiary in the form of PNB Met Life and worst may be also behind regarding assets (NPA) concerns.
Looking at the chart, PNB (CMP:166), has immediate positional support level of around 157 and immediate target may be 173-182 zone. Sustain above that, short term target may be 195. At least two Consecutive closing above 195, it may target 220-240 in the mid term and its long term target may be around 280.
On the downside, below 157, it may find good support around 141 zone.
By a quick Benjamin Graham (BG) model of techno/funda valuation model, median valuation of PNB is around 195 (standalone data) in the current market scenario.
| SCRIP | EPS(TTM) | BV(Act) | P/E(INDS) | LONG TERM | SHORT TERM | MEDIAN VALUE | 200-DEMA | 10-DEMA |
| PNB | 19.67 | 198.28 | 11.05 | 199.43 | 189.59 | 194.51 | 182.98 | 165.37 |
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