No ways!If you value your money, you should stay away from investing in Punjab National bank shares and for that matter all other PSU banks.In fact, you should even be wary of keeping fixed deposits in these banks.If the banks themselves are not bothered about their safety of loans or protecting the deposit holders, then what makes you think the price of this stock will go up meaningfully in the future? Just because the price has fallen does not mean that it will not fall more. In my opinion, the next cue for investing in these type of companies is when they will be privatized. Even mergers within PSU banks should not be used as reasons to invest.
When there are healthy and vibrant banks and NBFCs in India which are growing in the double digits year on year, why would you invest in a bank that has just reported a fraud 1 day ago that is around 37% of their entire market capitalization of the bank?(The reported fraud is of ₹11,500 crores and the market value of PNB is around ₹31,100 Cr). Such decisions can either make you go broke or completely miss the bus of opportunities in the stock markets.
