PNB share price rises 6% post Q1 results: Is there more upside likely?

PNB share price: PNB share price opened at ₹124.86 today almost 4% higher than previous close of ₹119.95.

Updated on: Jul 29, 2024, 11:02:33 IST

By HT News Desk | Edited by Mallika Soni

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Punjab National Bank (PNB) share price rose over 6% today (July 29) post Q1 results in which the lender reported highest-ever quarterly standalone profit of ₹3,252 crore. PNB saw an increase in interest revenue and a decrease of bad loans and net profit rose 159 per cent year on year.

PNB share price: The bank's share price continued to gain to intraday highs of ₹128.10. (Reuters)

What analysts have said on PNB share price?

Jefferies India Pvt ltd put a target price of ₹150 for the PNB stock indicating around 20% upside.

The brokerage said that it remains positive on lower slippages at 0.8% which though were offset by higher recoveries and it sees credit costs staying low for 1-2 years. Jefferies gave Punjab National Bank (PNB) share ‘Buy’ tag with target of ₹150.

Read more: Sensex hits record high, Nifty rises above 24,900 for the first time

Motilal Oswal Financial Services put target price for Punjab National Bank (PNB) at ₹135.

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HT News Desk
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PNB share price rises 6% post Q1 results: Is there more upside likely?

PNB share price: PNB share price opened at ₹124.86 today almost 4% higher than previous close of ₹119.95.

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What analysts have said on PNB share price?

Read more: Sensex hits record high, Nifty rises above 24,900 for the first time