Punjab National Bank (PNB), one of the
leading public sector lenders in India, jumped on Thursday after
reporting stronger-than-expected growth in third quarter profit.
Thestock went up by over 9%, which raised itmarket capitalisation
by Rs 26.5 billion to Rs 309.5 billion.
The bank reported a growth of 13.53% in net profit to Rs 13.06 billion for the quarter ended Dec. 31, 2012. Analysts on an average had expected profit to come at Rs 11.02 billion.
Total income of the bank increased by 10.39% to Rs 115.19
billion for the quarter ended Dec. 31, 2012 as compared to Rs
104.35 billion in the same period last year. 
Shares ofthebanksettled at Rs 912.45,
up Rs 78.2, or 9.37% at the Bombay Stock Exchange (BSE) on
Thursday. In the earlier session, the shares declined 2.92%, or Rs
25.05, at Rs 834.25. Total volume of shares traded on the bourses
today was higher by 1,060.38% to 8,489,328 compared with 22-day
average volume of 731,596. The scrip has touched an intra-day high
of Rs 922.10 and low of Rs 825.45.
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