From The Economic Times · Debaroti Adhikary · · 1m 20s
PNB Shares Jump 8% After Q2 Results Beat Estimates
PNB shares surge 8% as Q2 earnings beat estimates, brokerages raise target prices.
In brief
PNB shares surge 8% as Q2 earnings beat estimates, brokerages raise target prices. PNB's Q2 earnings exceeded estimates, with net profit rising 13% YoY to Rs 5,532 crore, prompting brokerages to increase target prices to Rs 140. Originally reported by The Economic Times.
PNB Q2 Earnings Report
PNB shares jumped 8% to Rs 125.22 on NSE after reporting better-than-expected Q2 earnings.
Q2 Net Profit Growth
PNB reported a standalone net profit of Rs 5,532 crore for Q2 FY27, a 13% year-on-year increase from Rs 4,904 crore.
Net Interest Income Rise
PNB's net interest income rose 11% YoY to Rs 11,601 crore in Q2 FY27, up from Rs 10,469 crore.
Asset Quality Improvements
GNPA ratio dropped 90 basis points to 2.55%, net NPA ratio fell 11 bps to 0.25% in Q2 FY27.
Jefferies Target Price
Jefferies raised PNB target price to Rs 140, implying over 20% upside from current Rs 116 share price.
Motilal Oswal Analysis
Motilal Oswal maintained 'Buy' rating and raised target price to Rs 140, citing strong Q2 performance and margin expansion.
JM Financial Upgrade
JM Financial upgraded PNB rating to 'Buy' from 'Add' and raised target price to Rs 140 from Rs 120.
Brokers' Key Insights
Brokers highlighted improved net interest margins, lower provisions, and healthy asset quality as drivers of PNB's Q2 performance.
Here's the gist
PNB's Q2 earnings exceeded estimates, with net profit rising 13% YoY to Rs 5,532 crore, prompting brokerages to increase target prices to Rs 140.
