PNB shares tank 12% after fraud amount rises to $2 billion
Shares of Punjab National Bank (PNB) plunged by over 12% on Tuesday after the bank said the Nirav Modi fraud amount could rise by $204 million to nearly $2 billion. PNB has lost around 40% of its market capitalisation since February 14, the day it disclosed the fraud to the public. It currently has a market value of â¹23,855 crore.