Kunal Bothra, Head - Advisory at LKP Securities, recommends a buy rating on Punjab National Bank with a target price of Rs 109 and a strict stop loss placed at Rs 102. The stock is trading with a P/E of -5.14 and P/B of 0.49. The stock has slipped 11 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.Punjab National Bank is a negative beta stock (-0.36) and is trading well below its 50-day, 100-day and 200-day moving average of Rs 85.10, Rs 107.34 and Rs 124.66, respectively, as per data collated by ETMarkets.com.

Source: Economic Times June 27, 2016 08:26 UTC