The evidence leans constructive8 supporting, 1 against, 1 worth knowing
Supporting
trading 2% above its 200-day average
up 3% over twelve months
matches more cash than borrowings, which has beaten the market by +1.47 points over 20 sessions across 6,919 past signals
3 of the scans it matches have a positive measured record
4 independent kinds of evidence agree today, which is uncommon
net margin has widened from 13.2% to 14.1% across four quarters
priced at 7× earnings against an industry median of 18× — 64% below its peers
futures show a long buildup — the move is being funded by new positions
Against
1 of the scans it matches has historically underperformed the market
Worth knowing
revenue fell 0% year on year in the quarter ending 30 June 2026
PNB sits in Public sector banks — worth checking whether the whole group is moving together or whether this name is doing it alone.
What would change this read: a close below 114, its 200-day average; open interest reversing while price keeps going.
Assembled automatically from the figures on this page — the scans matched, their measured record, the filed financials, the derivatives positioning and the peer comparison. It is not a recommendation, no one has spoken to the company, and every claim above can be checked against a number further down this page.
What is working, what is not
from the filings and from the price, with the figure behind every line
Working6
Net profit rose 191.4% year on year, from Rs 1,832 cr to Rs 5,339 cr.
+191.4%Rs 1,832 crRs 5,339 cr
Profit grew faster than revenue, +191.4% against -0.1%.
+191.4%-0.1%
Net margin moved from 4.8% to 14.1%.
4.8%14.1%
Trading 2.2% above its 200-day average, which is the line most investors use to separate a bull phase from a bear one.
+2.2%
3 different kinds of evidence point at it tonight, not 3 versions of the same one.
3 families
Rs 133 crore changes hands on a median day, so an ordinary order is not the reason it moves.
Rs 133 cr
Needs watching
Nothing on this side tonight — not in the filings and not in the price.
Every figure here is computed — from the company’s own filings, or from its own closing prices. Wording of 3 of these 3 filing lines was drafted by a language model, which is given the figures and may not introduce another — any sentence containing a number that did not come from the filings is discarded before it reaches this page.
How it has performed
price return over each window, beside the median NSE stock over the same days
What the scans say today
6 of 47 matched on 10 Sep
PNB matches 6 of the 47 scans today, across 4 different kinds of evidence. Three or more independent families agreeing is uncommon — it is the same test the shortlist on every page uses.
segments and revenue mix, as the company reports them
PNB reports 4 business segments. The largest is Corporate / Wholesale Banking at 38% of revenue in the quarter ending 30 June 2026.
SegmentRevenueSharevs a year ago
Corporate / Wholesale Banking14,502 cr38.2%—
Retail Banking11,693 cr30.8%—
Treasury Operations10,953 cr28.9%—
Other Banking Operations806 cr2.1%—
Segment names are the company’s own, taken verbatim from the reportable-segment disclosure in its quarterly XBRL filing. Nothing on this page describes the business in words we wrote.
Quality of the business
balance sheet as at 31 March 2026
Net debt
164,122 cr
cash exceeds borrowings
Cash conversion
124%
operating cash flow as a share of profit
Return on capital uses profit before tax over equity plus borrowings. The textbook version adds finance costs back; those are not tagged reliably in quarterly filings, so this understates the ratio for a heavily borrowed company rather than flattering it. Balance sheets are filed half-yearly, so these can be up to six months behind the profit figures above.
Valuation against its own history
500 sessions since 26 September 2024
6×
median 8×
9×
now 7×
PNB trades at 7× trailing earnings, below its median of 8× over this window — 16% less expensive than usual. The band runs from the 5th to the 95th percentile, so single-day spikes do not set the edges.
This window is short by the standards of valuation history — it begins where four quarters of filed earnings first exist. A stock can look cheap against two years and expensive against ten.
Analyst call filings were typically +0.11pt vs the market over the next 5 sessions (n=4,339) · AGM / EGM filings were typically +0.17pt vs the market over the next 5 sessions (n=8,423) · Other filing filings were typically +0.01pt vs the market over the next 5 sessions (n=17,202)
The business
from the company’s filed results
Everything below is taken from the company’s own quarterly filing with the exchange — the XBRL document it submitted, not a vendor’s summary of it. Figures in rupees crore.
RevenueNet profit, drawn inside its revenue barNet margin, own scale belowrupees crore, per quarter as filed. Revenue bars start at zero.
Going for it
profit rose 191% year on year
net margin narrowed from 14.2% to 14.1%
Going against it
revenue fell 0% against the same quarter a year earlier
Quarter-by-quarter numbers, as filed
Quarter
Revenue
Profit before tax
Net profit
EPS
Net margin
Q1 FY27
30 Jun · consolidated
37,954
7,108
5,339
5.06
14.1%
Q4 FY26
31 Mar · consolidated
36,878
7,141
5,225
4.83
14.2%
Q3 FY26
31 Dec · consolidated
37,903
6,440
5,190
4.83
13.7%
Q2 FY26
30 Sep · consolidated
36,684
6,527
4,849
4.46
13.2%
Q1 FY26
30 Jun · consolidated
37,999
6,973
1,832
1.84
4.8%
Q4 FY25
31 Mar · consolidated
37,299
6,518
4,643
4.34
12.4%
Quarterly filings are unaudited unless stated. Consolidated figures are used where the company files both. A single quarter is a noisy thing — the trend across the column is worth more than the top row.
Where the price stands
the same figures every scan on this site is computed from
Trend
Distance from the averages traders watch. Above all of them is a bull phase; below the 200-day is the line most investors use to say otherwise.
Versus 50-day average+3.9%
Versus 200-day average+2.2%
Below 52-week high-11.7%
Above 52-week low+17.4%
Momentum
How hard it has been pushed lately. Above 70 on RSI is stretched, below 30 is washed out — neither is a signal on its own.
RSI (14)51.3
Higher closes in last 53 of 5
Six-month return+3.30%
Risk and liquidity
What a position costs to hold and to exit. Position sizing starts with the daily swing, not with conviction.
Typical daily swing (ATR)1.78%
Volume versus 20-day1.5x
Median daily turnoverRs 132.7 cr
Derivatives
near expiry 2026-09-29 · 2026-09-10
Long Buildup
Price up, open interest up. New buyers are arriving rather than old sellers leaving — the move is being funded, not squeezed.
Futures basis versus spot-0.12%
Open interest change+0.1%
Put / call ratio0.69
Put wall (support)115
Call wall (resistance)120
Max pain117
How to read this
Open interest is contracts still open, so a rise means new positions and a fall means positions closing. Combined with price direction that gives the state on the left. The walls are the strikes carrying the most open interest near expiry — levels other people are watching, not levels the price is obliged to respect. A future below spot means sellers are paying to be short.
Peers
Financial Services · 119 classified companies
PNB trades at 6.5× trailing earnings against an industry median of 18.2× across 101 other classified companies in its industry — cheaper than them, by 64%. A multiple is a statement about expectations, not about quality: cheap usually means the market expects less, and it is often right.
largest twelve by market capitalisation. Market cap and P/E need filed financials, so blanks are companies whose filings have not been read yet
Recent sessions
what this stock has matched since the engine went live
This is the live record, not the backtest — the scans this stock actually appeared in on each stored session. A name that keeps reappearing is in a persistent condition; a one-day appearance usually is not.