PNB is a fundamentally strong company, and it is obviously that it will manage the crisis easily.
I believe that it will fall to around 120 levels, due to panic selling, which would be the best time to enter the stock.
@mklives, while I do agree that PNB has one of the largest NPA in PSUs, you can not just judge banks based on that itself. Not only that, the stock is trading at its 52weeks lowest point, and this is because of panic selloff by retail investors, not by large institutions, which means that there is a high possibility that PNB will recover back to its previous levels soon.
@leroyjd123, it should reach 90 to 100. and for somneone to make money the stock be fundamentall strong and technical strong matching fundamentals..both are absent here. am sure the next qtr results will be far worse..so no use in buying..there are much better opportunities
@mklives, I understand what you mean by that, and I totally agree with your idea of the stock to touch the 90s price levels, based on what the stock is trading at. Their quarterly results will obviously be bad, especially because of the fraud, but I still feel that there is a possibility that institutional buyers will start buying, and thus, there is possible recovery for PNB.