Home / Business and Economy / PNB Stock Soars: Brokerages Hike Targets Amid Profit Growth
PNB Stock Soars: Brokerages Hike Targets Amid Profit Growth
18 Oct
Summary
- PNB's Q2 FY27 profit jumped 12.8%, with analysts revising targets upwards.
- Federal Bank reported record quarterly net profit, up 45.1% year-on-year.
- Crompton Greaves' net profit soared 65% on strong demand and price hikes.
Punjab National Bank (PNB) has received significant attention from financial analysts, with both Kotak Institutional Equities and J.P. Morgan upgrading its target price. PNB's standalone net profit for the second quarter of fiscal year 2027 rose by 12.8% compared to the previous year, reaching Rs 5,532 crore. This growth was supported by a 10.8% increase in net interest income and an improved net interest margin of 2.58%.
Federal Bank also posted strong results, achieving a record quarterly net profit of Rs 1,386 crore, a 45.1% year-on-year increase. Its net interest income climbed by 26.4% to Rs 3,153 crore, with net interest margin expanding to 3.32%. Kotak Institutional Equities maintained its 'Add' rating, citing healthy traction in retail and business banking.
Crompton Greaves Consumer Electricals reported a substantial 65% jump in consolidated net profit to Rs 124.39 crore. Revenue for the quarter increased by 18.2% to Rs 2,263 crore. Kotak maintained its 'Buy' rating on the company, highlighting strong demand across its product categories and improved EBITDA margins.
