PNB shares tank over 7%; mcap drops ₹10,781 cr in 4 days

Shares of Punjab National Bank (PNB) tumbled over 7% on Monday, extending the fall for a fourth straight session following the ₹11,400-crore fraud at one its Mumbai branches.

The stock opened lower and slumped further 7.16% to its 52-week low of ₹116.65 on BSE.

At NSE, shares



of the company dived 6.77% to hit a one-year low of ₹117.05.

In four trading sessions, the stock has lost nearly 28% and suffered an erosion of ₹10,781.12 crore from its market capitalisation.

Meanwhile, shares of PNB Housing slipped 1.36% to ₹1,184.35 on BSE.