Following the bank’s disclosure of loan fraud, the price of Punjab National Bank’s (PNB) shares fell 3% to an intraday low of ₹116.60 during Monday’s opening session on December 29. Nevertheless, the shares recovered their initial losses and were trading at ₹120.75 a share, a little gain of 0.36%.
PNB Loan Fraud Disclosure and RBI Notification
The bank notified the Reserve Bank of India (RBI) on Friday that the previous promoters of SREI Equipment Finance Ltd. and SREI Infrastructure Finance Ltd. were involved in a borrowing scam of about ₹2,434 crore.
The National Company Law Tribunal (NCLT) effectively resolved these entities under the Corporate Insolvency Resolution Process (CIRP), according to PNB.
Breakup of the Scam Amount
A loan account of SREI Equipment Finance Ltd. accounts for ₹1,241 crore of the ₹2,434 crore scam amount, while a loan account of SREI Infrastructure Finance Ltd. accounts for ₹1,193 crore. The document states that the lender has already made preparations for the whole unpaid sum.
The new promoter, National Asset Reconstruction Company Ltd (NARCL), purchased the two firms in December 2023 after they completed resolution under the Insolvency and Bankruptcy Code (IBC) with a total debt of ₹32,700 crore.
RBI Action and Promoter Background
In October 2021, the Reserve Bank of India replaced the boards of SIFL and SEFL, its fully owned subsidiary. Prior to the RBI superseding their boards due to alleged mismanagement and starting IBC proceedings, the twin enterprises were under the ownership of the Kanoria family of Kolkata.
Hemant Kanoria was the main face of SIFL when SREI started off as an asset-financing NBFC in 1989. The bank’s net profit for the September quarter increased 13.94% to ₹4,903.7 crore from ₹4,303.4 crore in the same period last year.
PNB Financial Performance Overview
In comparison to the same time last year, total interest income increased by 6.7% to ₹3,187 crore from ₹2,987 crore. At ₹10,469 crore, the bank’s net interest income was almost unchanged from ₹10,517 crore the previous year.
History of PNB Share Prices
Following a protracted stretch of losses, PNB shares saw a dramatic comeback in February with a 10% increase. They continued this pace in the next months, finishing six of the next eight months higher. The shares have increased by 43% throughout this time.
In terms of annual performance, the stock produced a 17% return in 2025 and is on course to make gains for the fifth year in a row. It is still trading 16% below its peak of ₹143 per unit in 2024.
RBC’s Top Clean Energy Stocks to Keep an Eye on
Despite market swings, the renewable energy industry still offers attractive investment prospects. Two exceptional performances that are well-positioned to profit from the changing renewable energy market have been recognized by RBC Capital Markets.
(NYSE:HASI) HA Sustainable Infrastructure Capital, Inc.
Because of its exposure to a robust macroenvironment that generates a wealth of investment possibilities, HASI stands apart.
Smaller deals that provide possibilities and value have been the foundation of the company’s operations. Due to its CCH1 partnership and investment-grade rating, HASI has better access to finance, enabling it to participate in bigger deals.
Major Investments and Growth Outlook
HASI completed a $1.2 billion preferred equity investment in SunZia, the biggest sustainable energy infrastructure project in North America, in October. The firm is on target to accomplish over $3 billion in transactions this year thanks to this agreement, which was funded by CCH1. This represents an increase of more than 30% over the previous year.
Despite this big deal, HASI still has a strong pipeline worth over $6 billion, which suggests a lot of potential chances. Demand in the near future is anticipated from developers who want to construct before the solar and wind tax credits expire at the end of 2027.
With potential upside backed by the robust macroenvironment, strategic alliances, and financing arrangements that reduce capital costs, management continues to have faith in the business model and estimates an 8–10% EPS CAGR outlook for the long run.
(NASDAQ:RUN) Sunrun Inc.
With the potential for growth in demand, Sunrun is well-positioned to increase its market share in the next year. RUN is a global leader in third-party ownership (TPO), and the cessation of section 25D tax benefits starting at year-end 2025 might increase demand.
Because of its lease/PPA business strategy, non-TPO systems represent for just approximately 5% of RUN’s customer additions, although accounting for around 43% of residential demand. As non-TPO installers choose to collaborate with TPO providers, this termination offers RUN the chance to selectively integrate more dealers.
Cash Flow and Growth Drivers
The management’s moderate growth expectation message may have created an environment that is conducive to positive surprises. With projections of $540 million by 2026, growing from around $350 million in 2025, RUN’s core proposition is cash creation.
Greater utility prices, lower customer acquisition costs, greater storage attachment rates, and more grid services provide further development prospects.
Indian Market Highlights and Corporate Actions
Power Grid, Adani Ports, and Trent among the biggest losses as the Sensex drops 300 points and the Nifty approaches 25,950.
The IT index is down 0.5%, the BSE Midcap and smallcap indexes are down 0.4% apiece, and the metal and oil and gas sectors are the only areas where Indian indices are up today. Major gains on the Nifty include Tata Steel, Eternal, JSW Steel, ONGC, and Nestle; losses include Adani Ports, Power Grid Corp., Trent, Reliance Industries, and TCS.
Vedanta and Timex Group Updates
Vedanta is the winning bidder for the Depo Graphite–Vanadium block, according to Sensex Today.
The business was named the winning bidder in the crucial mineral auctions for the Depo Graphite–Vanadium block.
The Depo Graphite-Vanadium block’s successful bidder status will bolster the company’s vital minerals portfolio even further.
Vedanta’s quote was down Rs 4.15, or 0.69 percent, to Rs 596.95. It reached a 52-week high of Rs 616. It has had intraday highs of Rs 616 and lows of Rs 596.40.
Timex Group India OFS
Sensex Today | The promoter would sell 8.93% of Timex Group India.
On December 29–30, promoter Timex Group Luxury Watches BV will conduct an offer-for-sale (OFS) to sell an 8.93% share in the business.
With a green shoe option of an extra 4.47% equity ownership (45.09 lakh shares), the OFS’s basic issue size is 4.47% equity (45.09 lakh shares). The set floor price per share is Rs 275. Timex Group India‘s quote was down Rs 34.10, or 9.69 percent, to Rs 317.65.
It has had intraday highs of Rs 330.75 and lows of Rs 316.60. It was trading at 2,727,320 shares, up 2,429.13 percent from its five-day average of 107,836 shares.
Global Markets and Commodities Wrap
Silver Becomes Volatile, Stocks Hover Near Record: Markets Wrap
Artificial intelligence drove a record-breaking surge in global equities that helped markets recover from a decline in April brought on by tariff worries. Precious metals like silver saw extreme volatility and reached yet another record high.
As a much-anticipated year-end rally took hold, the MSCI All Country World Index, one of the most comprehensive indicators of the equities market, remained stable after climbing 1.4% to a record high last week. Tech and industrials helped a barometer of Asian shares rise 0.3% for the seventh day in a row. After the US benchmark ended Friday close to its top, European futures gained 0.3% while S&P 500 contracts slightly decreased.
Precious Metals and Macro Factors
In the midst of a historic spike driven by speculative trading and a persistent imbalance between supply and demand, silver gyrated after breaking past $80 per ounce for the first time. Copper surged more than 6% to set a record on the London Metal Exchange, while gold fell more than 1% after hitting a new high in the previous session.
Due to increased central bank purchases, inflows into exchange-traded funds, and three consecutive rate reduction by the Federal Reserve, precious metals have been a hot topic in the financial markets in recent months. Commodities, which do not pay interest, benefit greatly from lower borrowing costs, and traders are placing bets on more rate reductions in 2026.
Since the beginning of the bull run, stocks have lagged behind gold and silver.
Analyst Views and Geopolitical Factors
Tony Sycamore, a market analyst at IG Australia, said in a note on Sunday that “we are watching a generational bubble playing out in silver.” “Physical premiums have reached extremes due to unrelenting industrial demand from solar panels, EVs, AI data centers, and electronics, pushing against decreasing stockpiles.”
Elon Musk‘s statement over the weekend that emphasized the increasing investor frenzy around precious metals was the catalyst for Monday’s early surge. “This is not good,” Musk said on X in response to a tweet on Chinese export limits. Numerous industrial processes use silver.
The US’s embargo of oil tankers in Venezuela and Washington’s attacks on the Islamic State in Nigeria over the last week have further increased the allure of these metals as havens. Silver inventories are almost at their lowest point ever, which raises the possibility of supply shortages that might affect a number of industries.
Global Politics, Assets, and Market Data
In international news, President Donald Trump said that he made “a lot of progress” in negotiations with Ukrainian President Volodymyr Zelenskiy over a potential peace agreement, but that there is no clear timeframe and that it may take several weeks to complete.
As China promised to assist development next year and the US-led negotiations failed to produce a deal, oil prices increased. The fifth monthly decline in December, which would be the longest losing stretch in over two years, is still on course.
While a measure of the dollar remained stable, Bitcoin increased by more than 2% in other markets.
The global equities gauge has increased by about 22% in 2025, marking the largest increase since 2019 and a third consecutive year of growth. Investors believe that the Fed’s interest rate trajectory and AI trends will be two of the most important variables influencing the performance of stocks in 2026. Later this week, the Fed will make public the minutes of its December policy meeting.
According to Nirgunan Tiruchelvam, an analyst at Aletheia Capital, “stocks may continue their celebration into 2026 since rate cuts are coming, global economy is solid, and the worst of the tariff risks appear to be already in the price.”
Market Snapshot
Stocks
As of 6:50 a.m. London time, S&P 500 futures had not moved much.
Futures for the Nasdaq 100 dropped 0.2%.
There was little movement in Dow Jones Industrial Average futures.
The MSCI Asia Pacific Index increased by 0.3%.
The MSCI Emerging Markets Index increased by 0.5%.
The Hang Seng in Hong Kong dropped 0.5%.
There were little changes to the Shanghai Composite.
Futures for the Euro Stoxx 50 increased by 0.3%.
Money
There was little movement in the Bloomberg Dollar Spot Index.
At $1.1764, the euro hardly moved.
The Japanese yen increased 0.2% to 156.26 USD.
At 7.0043 per dollar, the offshore yuan hardly moved.
At $1.3494, the British pound hardly moved.
Cryptocurrency
Bitcoin increased 2.6% to $89,775.64.
Ether increased 3.3% to $3,032.46.
Bonds
At 4.13%, the yield on 10-year Treasury bonds hardly moved.
The 10-year yield for Germany remained at 2.86%.
At 4.51%, Britain’s 10-year yield hardly moved.
The 10-year yield for Australia increased by two basis points to 4.76%.
Commodities
Spot gold dropped 1.1% to $4,483.53 per ounce.
West Texas Intermediate crude increased by 1% to $57.32 a barrel.
Disclaimer: This article is for informational purposes only. Stock market data may change rapidly. Readers are advised to verify information from official sources and charts before making any investment decisions.
