Reliance Industries and Infosys were among the top gainers, up 1.73 percent and 1.36 percent respectively, apart from stocks like Lupin, UPL and Power Grid which gained up to 2.3 percent. In the Nifty50, the advance-decline ratio was in favour of the advances with 29 stocks advancing and 20 stocks declining.
The Board of Directors accorded approval for raising common equity tier capital up to Rs 5,000 crore as per Basel III requirements, the bank said in a BSE filing.
The public sector bank however did not give any indication as to whether it would be raised by diluting government equity or issuing Additional Tier-1 (AT1) bonds.
Ashwani Gujral of ashwanigujral.com recommends buying L&T Finance Holdings, Dewan Housing Finance, Sundram Fasteners, Indraprastha Gas, BF Utilities and Larsen and Toubro.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Zee Entertainment and Larsen & Toubro and sell Punjab National Bank.
The CBI has registered a case against 19 companies which have sent over Rs 424 crore in foreign remittances through about 700 transactions, suspecting it to be a case of money laundering through shell companies.
Ashwani Gujral of ashwanigujral.com recommends selling Idea Cellular, Sun Pharma and Interglobe Aviation and advises buy Titan Company and UltraTech Cement.
The new base rates will be effective from September 1. The cut has been down from 9.35 percent
Chandan Taparia of Motilal Oswal Securities recommends buying Bharat Financial Inclusion and Axis Bank and advises selling Bank of Baroda.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell HCC, Suzlon Energy, BHEL and PNB and buy Century Textiles.
Together these two banks account for Rs 37,382 crore or 40 percent of the total outstanding loans.
Sandeep Wagle of powermywealth.com suggests buying Bharat Electronics and advises selling Punjab National Bank.
Ashwani Gujral of ashwanigujral.com is of the view that one may buy TCS and sell Punjab National Bank and Ashok Leyland.
Chandan Taparia of Motilal Oswal Securities recommends a Bull Call Spread in Infosys and advises buying Havells India and NTPC and suggests selling PNB.
Motilal Oswal recommended buy rating on Punjab National Bank with a target price of Rs 184 in its research report dated August 2, 2017.
KRChoksey is bullish on Punjab National Bank has recommended accumulate rating on the stock with a target price of Rs 174 in its research report dated 3nd August, 2017.
Ashwani Gujral of ashwanigujral.com recommends selling Jaiprakash Associates, Balrampur Chini and Punjab National Bank.
ICICI Direct has recommended Buy rating on Punjab National Bank with a target price of Rs 180 in its research report dated August 03, 2017.
ICICI Direct recommended buy rating on Punjab National Bank with a target price of Rs 180 in its research report dated August 03, 2017.
Edelweiss is bullish on Punjab National Bank has recommended buy rating on the stock with a target price of Rs 180 in its research report dated August 2, 2017
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Coal India and Punjab National Bank and buy Colgate Palmolive.
Rajat Bose of rajatkbose.com suggests buying Voltas, Balrampur Chini and Dhampur Sugar while he feels that Bank of Baroda, Canara Bank and Punjab National Bank are short candidates.
In an interview to CNBC-TV18, Ashwani Gujral of ashwanigujral.com advises which stocks to buy, sell or hold for handsome returns.
On the asset quality front, the net NPAs surged to Rs 34,573 crore against Rs 32,702 crore in the previous quarter. Meanwhile, the gross NPAs stood at Rs 57,721 crore against Rs 55,370 crore quarter on quarter.
Analysts said if slippages come below Rs 6,000 crore, loan growth in double digits, and improvement in net interest margin & gross non-performing assets then that will be positive.