Pnb share price: Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025 on Saturday (1 February). He has proposed not to impose any tax till income of Rs 12 lakh in the budget. Following this announcement, FMCG, Consumer Goods, realty stocks saw a boom while healthcare, IT and financial shares fell in decline.
Amid this mixed trend in the market, brokerage firm Motilal Oswal has advised to buy veteran PSU banking stock Punjab and National (PNB). PNB shares fell 1.78% in the special trading session held on Saturday at Rs 99.35.
Brokerage has upgraded its ratings on stock on the strong results of the December quarter. In the December quarter of Punjab and National Bank, the profit increased by 102.8% to Rs 4,508 crore. It was Rs 2,223 crore in the same period of a year ago.
PNB: Rating Buy | Target Price 125 rupees | Upside Return 25%
Brokerage firm Motilal Oswal has upgraded to ‘Buy’ on Punjab and National Bank (PNB) on the basis of brilliant quarterly results. Brokerage has placed a target price of Rs 125 on the bank in a long -term point of view. In this way the stock can show 25% upside in the future compared to the closed price of Saturday (1 February). PNB’s stock stock climbed 5% on BSE to close at Rs 101.15 on Friday while it fell 1.78% to close at Rs 99.35 on Saturday.
Talking about the performance of PNB stock, it has been under pressure for some time. The stock has fallen by 3.26% in the last one month. Whereas in the last three months, the stock has almost been flat. At the same time, the stock has fallen 19.16% in the last six months while in a year it has fallen 16.41%.
Brokerage commentary on PNB
Brokerage firm Motilal Oswal said that we have upgraded the PNB rating in view of good cash deposit ratio, strong provision reversal potential and powerful recovery pipeline.
According to the brokerage firm, the bank’s asset quality is continuously getting good. At the same time, the slipage has decreased further on a quarterly basis. In view of the scope of improvement in stable returns on asset outlook and margin, we are watching the Favorable Risk Award.