Home Business Analysts downgrade brokerages for fraud-hit PNB amid largest-ever q4 loss

Analysts downgrade brokerages for fraud-hit PNB amid largest-ever q4 loss

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(G.N.S) DT.16 New Delhi Most brokerages have turned bearish on fraud-hit Punjab National Bank after it posted largest ever quarterly loss by an Indian lender. The state-run lender reported a loss of Rs 13,420 crore in the quarter ended March 31, compared with Rs 3,840 crore loss predicted in a Bloomberg survey and a Rs 2,620 crore profit earlier. Provisions soared 254 percent to Rs 20,350 crore. Besides downgrading the

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