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UTI AMC stake sale key for PNB’s growth, but bank needs more capital

At November 25 market price, PNB’s 15 percent stake in the AMC will be worth about Rs 1,376 crore. Analysts point out that PNB has fallen short of peers when it comes to improvement in asset quality. For the July-September quarter of FY23, the bank reported a net profit of Rs 410 crore, which was lower than Street estimates.

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