Keep Rs 160 stoploss in PNB: Shahina Mukadam

Shahina Mukadam of Independent Market Expert told CNBC-TV18, "In Punjab National Bank (PNB) I would keep a deep stoploss of Rs 160 because the stock has rallied very sharply in the last couple of days backed on news which is recapitalisation of banks. However, I think with a very low capital adequacy, as of now just around 9 percent, there is a long way to go before it starts reflecting into numbers. So, I would keep a stoploss, times are good, I think overall PSU banks have rallied too far ahead of news."

At 15:03 hrs Punjab National Bank was quoting at Rs 199, up Rs 2.30, or 1.17 percent.

The share touched its 52-week high Rs 231.60 and 52-week low Rs 114.60 on 26 October, 2017 and 29 December, 2016, respectively.