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PNB Gilts: Facing tough times

Aug 27, 2002

With increased volatility in debt markets during the first quarter of FY03, PNB Gilts reported a net loss of Rs 98 m as against profits of Rs 462 m in the previous quarter. On YoY basis, the company's financials are not exactly comparable due to significant changes in interest rates during the last one year.

PNB Gilts: Interest rates benefits

Apr 25, 2002

PNB Gilts reported strong performance for the full year ended March 2002 with a 139% growth in profits and 48% net profit margins. The company's operating profits also doubled due to lower interest cost and operating expenses. However, on a sequential basis, its earnings in the fourth quarter dropped by 24%. On a YoY basis the company's financials are not comparable due to significant changes in interest rates during the last one year.

Debt market: Time to evolve

Mar 4, 2002

Debt markets over the last one-year have witnessed healthy volumes. The depth of the markets widened with the aggressive entry of debt mutual funds and also heavy investments by banks in government securities. Retail participation in the primary market was also encouraged by allocating them up to 5% of issue on a non-competitive basis.

PNB Gilts: Glittering performance

Feb 11, 2002

PNB Gilts continued its sterling financial performance during the December quarter. The company's earnings more than doubled to Rs 380 m and income from operation rose by 78% on a QoQ basis. On a YoY basis the company's financials are not comparable due to significant changes in interest rates during the last one year.

PNB Gilts: Debt market play

Oct 29, 2001

With a healthy debt market environment, PNB Gilts has reported a fantastic performance in the first half of the current year. However, on a QoQ basis, the company's net profits have declined by 43% in 2QFY02.

G-Sec and T-bills: Poised for a big leap

Aug 18, 2001

Government securities (G-Sec) market, which has so far been in its infancy, finally seems to be expanding rapidly with the increase in number of players and optimistic outlook for the interest rates in the country.

PNB Gilts: Bet on the debt market

Aug 18, 2001

While equity markets are witnessing lack of confidence, debt markets are flying higher as the risk associated is relatively low. The volumes in government securities (G-Sec) market jumped exponentially after the entry of primary dealers (PDs) in the year 1996. PNB Gilts was amongst the first to get the licence in July ’96. In a short span of five years, the company has emerged as a frontrunner in the G-Sec market.

PNB Gilts: No surprises in 1Q

Jul 11, 2001

PNB Gilts has reported an astounding growth in profits in 1QFY02. The company's profit has increased to Rs 290 m from Rs 4.8 m in 1QFY01. However, compared to 4QFY01 profits have actually declined by 13%.

PNB Gilts: Interest rate play

Jul 5, 2001

PNB Gilts, a frontrunner in the government securities market has reported 68% jump in 4QFY01 profits. Favourable interest rate scenario has fueled the profit growth of the company.

"Our vision is to become a key player in the debt market."

Apr 28, 2001

In an interview with Equitymaster.com Mr. Kaul spoke of PNB Gilt’s strategy in its lines of business, the outlook on debt markets and the management’s vision for the company in the coming years.

PNB Gilts: A dividend yield play?

Mar 22, 2001

PNB Gilts came out with an IPO at a price of Rs 30. The company made a debut at a price of Rs 16 on September 22, ’00 on the BSE. Since then the price has touched a high of Rs 23.7 on March 1, ’01 due to reforms announced in the budget for the debt markets. The company currently trades at a price of Rs 16.4, a discount of more than 45% compared to its issue price.

Debt markets: Coming of age

Mar 15, 2001

In the past few days while the equity markets crashed, debt markets witnessed a steady buying interest. However, compared to large volumes in the post budget week, liquidity in the debt markets declined to a certain extent recently.


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