PNB Gets Target Price Hikes; Crompton Greaves And Federal Bank Stay Under Bullish Lens

Punjab National Bank (PNB) has received target price upgrades from Kotak Institutional Equities and J.P. Morgan, while Federal Bank and Crompton Greaves Consumer Electricals continue to attract positive brokerage calls following their September-quarter earnings.

Kotak maintained its 'Add' rating on PNB and raised its target price to Rs 130 from Rs 125. J.P. Morgan retained its 'Overweight' rating and increased its target to Rs 134 from Rs 129.

Both brokerages cited improving profitability, healthy loan growth and favourable margin trends as key positives for the public-sector lender.

PNB Gets Two Target Price Upgrades

PNB reported a 12.8% year-on-year rise in standalone net profit to Rs 5,532 crore in Q2 FY27. Net interest income increased 10.8% to Rs 11,601 crore, while net interest margin improved to 2.58% from 2.50% in the previous quarter.

Kotak highlighted stronger lending yields and lower funding costs. J.P. Morgan pointed to healthy advances growth across international, SME and retail segments, along with a higher share of retail, agriculture and MSME loans.

Asset quality remained comfortable, with gross NPAs at 2.55% and net NPAs at 0.25%. However, the sequential rise in fresh slippages remains a factor to monitor.

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Federal Bank Retains Kotak's Positive Rating

Kotak maintained its 'Add' rating on Federal Bank with a target price of Rs 375. The lender delivered a record quarterly net profit of Rs 1,386 crore, up 45.1% year-on-year. Net interest income climbed 26.4% to Rs 3,153 crore, while net interest margin expanded to 3.32%.

The brokerage highlighted healthy retail and business banking traction, stable asset quality and the potential benefits of lower funding costs. Fee income and treasury gains also supported earnings.

Crompton Greaves Stays on Kotak's Buy List

Kotak maintained its 'Buy' rating on Crompton Greaves Consumer Electricals and set a revised target price of Rs 350. The company reported a 65% jump in consolidated net profit to Rs 124.39 crore, while revenue rose 18.2% to Rs 2,263 crore.

Strong demand across fans, pumps, lighting and Butterfly appliances supported growth. EBITDA increased 24.1% to Rs 205 crore, with margins benefiting from price hikes, cost efficiencies and operating leverage. Exports and market-share gains provided additional support.

The brokerage calls highlight improving earnings momentum across the three companies, with PNB receiving the clearest vote of confidence through two separate target price increases.

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'Play Him Exceptionally Well': NZ Great Offers Shocking Tests Stat Of Bumrah

India's squads for the ODI and Test series against New Zealand were announced on Friday. Before those assignments, the two teams will face off in a five-match T20I series, beginning on October 22. For India, the most crucial leg of the tour will be the two-Test series as they continue their push for a place in the World Test Championship 2027 final. New Zealand have enjoyed a significant edge over India in recent Test encounters, winning six of their last eight matches against them.

Jasprit Bumrah has been included in India's Test squad after being rested for the ODI series. The star pacer, who has battled injury concerns in recent years, is expected to be a key weapon for India. However, former New Zealand fast bowler Tim Southee offered an interesting perspective on Bumrah's impact.

Southee pointed out that, somewhat surprisingly, Bumrah has never been part of an Indian team that has defeated New Zealand in a Test match. He added that the Kiwis are well aware of how to counter Bumrah's pace and skill.

"I think New Zealand have played Bumrah incredibly well in Test cricket. I don't think Bumrah has played in an Indian team that has beaten New Zealand. So, I think New Zealand play him exceptionally well in Tests," Southee said during a virtual interaction by Sony Sports Network.

So far, Bumrah has played five Tests against New Zealand and claimed nine wickets. India, however, ended up on the losing side in all five matches.

Southee also highlighted Mohammed Siraj as a crucial member of India's bowling attack, praising the pacer for the unique energy and intensity he brings to the field whenever he plays.

"I'm a big fan of Mohammed Siraj and the way he bowls. If he can get his length right in New Zealand, he could be a handful. The energy he brings, the way he runs in all day, the type of bowler he is, there's no reason why he can't have a lot of success in New Zealand conditions. There's a lot to like about him in particular," Southee said.

Following the five-match T20I series, India and New Zealand will meet in a five-match ODI series starting on November 4, before the two-Test series gets underway on November 19.

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31-Test Veteran Emerges As Strong Contender For India Chief Selector's Job

Former India opener Wasim Jaffer has applied for the vacant senior national selector's post, putting himself in contention for a position that fell vacant after the BCCI decided against renewing Ajit Agarkar's contract. "Yes, I have applied for the job," Jaffer confirmed to PTI. The 48-year-old Jaffer played 31 Tests for India, scoring close to 2,000 runs, including five centuries. His Test hundreds included a double century against the West Indies and a hundred in South Africa. He also scored a double century against Pakistan in Kolkata.

If selected by the Cricket Advisory Committee (CAC), comprising Ashok Malhotra and Jatin Paranjape, Jaffer would have the highest number of Test appearances among the candidates being considered for the chairman's position.

With 31 Tests, he has a better playing record in the longest format than Pragyan Ojha, who represented India in 24 Tests. Under the existing selection process, the member from the zone with the highest number of Test appearances is eligible to head the committee.

However, it is understood that there is strong support within the BCCI for retaining Ojha as chairman, which could influence the composition of the new selection panel.

In that scenario, former India spinner Ramesh Powar, who played two Tests, could also be in contention for a place on the committee, potentially from the West Zone.

The final composition of the selection panel will depend on the CAC's assessment of the applicants and the BCCI's preferences as it looks to fill the vacancy left by Ajit Agarkar.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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PM Modi's 15-Year-Olds Remark, Then An Epic Reaction From Sooryavanshi

India's teenage prodigy, Vaibhav Sooryavanshi, was in attendance among the country's Asian Games 2026 stars at Major Dhyan Chand Stadium in Delhi Thursday as Prime Minister Narendra Modi felicitated the contingent. Sooryavanshi was a part of the Indian men's cricket team that won the gold medal in Tokyo. During the ceremony, PM Modi gave a riveting speech that also captured how 15-year-olds are winning medals for the country at grand events such as the Asian Games. The remark drew a smile even on the face of Sooryavanshi.

PM Modi could not stop hailing the Indian athletes during the felicitation ceremony, including the cricketers, hockey teams, and boxers, whilst lauding the records that were broken in the Aichi-Nagoya Asian Games and the historic milestones that were achieved.

As PM Modi continued his speech, he made a special mention of the 15 and 17-year-olds who won medals for India at the Games. Although he did not mention Sooryavanshi by name, the mention did see the camera shift focus to the Indian cricketing prodigy.

"This time in the Asian Games, there were many players on Team India whose age was only 15 to 17 years. At such a young age, these players have enhanced the pride of the country with their spectacular performances. They have won the hearts of the countrymen. This shows that for success, age is not a restriction. In sports, it is the start made at a young age that becomes an added advantage," he said.

As PM Modi said this, Sooryavanshi had a big smile on his face.

"Therefore, it is our effort that in sports, the identification of talent should happen at a young age. For children between 5 and 15 years of age, we are especially focused on identifying sporting talent and its training. In the coming years, thousands of new players will get opportunities to advance through Khelo India and Emerging Khelo India," PM Modi added.

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PM Modi also reserved special praise for the country's female contingent at the Asian Games. He said: "Friends, I would like to especially praise our daughters. Out of the 85 medals won by India, 38 medals were won by our women athletes, and 11 gold medals are included in them. These medals are not just a number. This is a picture of a new India."

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