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PNB Q2 Results: Motilal Oswal Gives Buy Rating With Target Of Rs 140
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CNBC Awaaz•17-10-2026, 13:06
PNB Q2 Results: Motilal Oswal Gives Buy Rating With Target Of Rs 140
- •Punjab National Bank reported a 12.8 percent year-on-year growth in net profit at Rs 5,532 crore for the September quarter.
- •Brokerage firm Motilal Oswal maintained a Buy rating on PNB with a target price of Rs 140, indicating a potential upside of 21 percent.
- •The strong financial performance was driven by better control over provisioning and operating expenses.
- •The bank reduced its one-time Expected Credit Loss impact estimate to Rs 8,000 crore.
- •Asset quality trends remain healthy overall despite a marginal increase in slippages from an infrastructure corporate account.
Key Questions Answered
Punjab National Bank reported a net profit growth of 12.8% on a year-on-year basis, reaching Rs 5,532 crore for the September quarter compared to Rs 4,903 crore in the same period last year.
Following the strong September quarter results, brokerage house Motilal Oswal maintained its 'Buy' rating on PNB stock with a target price of Rs 140.
PNB's profit grew despite a 17% year-on-year drop in other income because of a sharp drop in provisions, which fell to Rs 97.27 crore from Rs 541 crore in the June quarter, alongside controlled operating expenses.
