PNB joins the Rs. 1L crore market cap league
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Punjab National Bank (PNB) joined the ranks of State Bank of India and Bank of Baroda as the third Indian lender to surpass a market cap of Rs. 1 lakh crore. This achievement comes after a 60% increase in PNB's shares this year, with the stock price reaching a high of Rs. 92 apiece on December 15. Analysts attribute this surge to a sustained rally in public sector firms, noting that PSU banks are undervalued compared to their private counterparts.