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PNB shares rise after Q2FY27 updates show advance and deposit growth
Motilal Oswal reiterated a Buy rating on Punjab National Bank, setting a ₹135 target price after Q2FY27 business updates showed global advances up 14.8% and global deposits up 9.9% year on year.
Bank stocks gained after Punjab National Bank and other lenders shared Q2FY27 business updates, with momentum led by private banks, according to LiveMint Markets.
Motilal Oswal Financial Services said it expects Q2FY27 earnings in bank stocks to be led by private lenders.
For PNB, the brokerage highlighted that the PSU lender’s business grew 11.9% year on year to ₹31.2 trillion, while global advances rose 14.8% annually, driven by domestic advances.
Motilal Oswal added that global deposits grew 9.9% year on year, supported by domestic deposit growth of 9.4%, and maintained a Buy rating with a ₹135 target price for PNB.