PNB VOLATILE BUT RESILIENT: STOCK REBOUNDS AFTER EARLY SHOCK

Punjab National Bank (

) witnessed sharp intraday volatility on 29 December, sliding as much as 3.13% in early trade. The decline came after the bank reported a borrowal fraud of ₹2,434 crore to the RBI involving the erstwhile promoters of SREI Equipment Finance and SREI Infrastructure Finance. Notably, both entities were earlier resolved under the Corporate Insolvency Resolution Process (CIRP) through the NCLT, limiting incremental financial impact. As the session progressed, buying interest returned and sentiment stabilized. By 12:00 PM, PNB had recovered its entire early loss and turned green, reflecting investor confidence and relief-driven buying after initial reaction.