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Rakesh Madhav CFA

20th Oct · SEBI-Registered Analyst

PNB – Riding the PSU Bank Wave 🏦

Technical View:

PNB
closed near ₹118 (+3.9%), continuing its higher-high structure. The stock is above its short-term EMAs (₹113–₹115), showing bullish bias. RSI trending up, suggesting further upside potential. Fundamental View: Strong earnings recovery, lower NPAs, and improving loan growth driving valuations. NIMs remain healthy; GNPA ratio down to multi-year lows. FY25E PE ~9x; ROE expected around 13–14%. 🎯 Target: ₹125–₹130 (+8–10%) 🛑 Stop-Loss: ₹112 📊 Bias: Bullish – PSU momentum play with improving fundamentals.

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