Punjab National Bank Share Price: Shares of Punjab National Bank (PNB) hit a new 52-week high in early trading on Nov. 25, after the lender announced it had received government of India approval for a share sale in UTI Asset Management Company. The stock rose 7.38 per cent to reach a high of Rs 54.55 on BSE, bringing its 8-day gain to 24 per cent. Friday’s increase on the counter came after DIPAM approved the sale of the bank’s stake in UTI Asset Management Company in single or multiple tranches. As of September 30, PNB owned a 15.22 percent stake in UTI Asset Management Company. That stake is today valued at Rs 1,394.52 crore, following a 7.36 percent rise in AMC shares. AMC share reached a high Rs 740.15 on BSE today.
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