PNB shares jump 5.5% to 2-month high after Q1 profit more than triples; brokerages turn bullish

Punjab National Bank (PNB) shares surged 5.6 percent to a two-month high of about Rs 111.70 after its Q1FY27 net profit more than tripled year-on-year to Rs 5,253 crore from Rs 1,675 crore, driven by improved core operating performance and stronger asset quality. Net interest income rose 4 percent quarter-on-quarter while net interest margin expanded 6 basis points sequentially, and gross NPAs declined by Rs 7,292 crore to Rs 35,381 crore with net NPA ratio improving to 0.26 percent. Brokerages turned bullish, with Motilal Oswal reiterating BUY at a target of Rs 135 and JM Financial upgrading the stock to ADD with a target of Rs 120.