21 Apr , 2026 By : Debdeep Gupta
Shares of state-run Bank of Maharashtra extended gains of nearly 6% on Tuesday after the lender reported strong March quarter earnings.
According to the latest NSE data, the stock was up 5.79% at Rs 79.90 in Tuesday trade.
Tuesday’s gains extended the stock’s strong momentum from Monday. In the previous trading session, Bank of Maharashtra shares closed at Rs 75.54, up 3.86% from the prior close of Rs 72.73.
The bank on Monday reported a 15% year-on-year rise in net profit for Q4 FY26 to Rs 2,014 crore, compared with Rs 1,493 crore in the same quarter last year.
Net Interest Income (NII), or core income, rose 19% to Rs 3,702.5 crore from Rs 3,116.4 crore a year ago.
Speaking to CNBC-TV18, Bank of Maharashtra Managing Director and CEO Nidhu Saxena said the lender expects to maintain profit growth going forward.
He added that the bank has not seen any rise in NPAs in the MSME segment, though it is closely monitoring vulnerable pockets and some stress could emerge in coming quarters.
On crude prices, Saxena said oil above $100 per barrel would be a cause for concern.
He also said the PM Fasal Bima Yojana could help reduce risks in the agriculture segment. Net NPA is expected to remain below 0.25%.
Meanwhile, HDFC Securities assigned a 'Buy' rating on the stock with a target price of Rs 90.
The brokerage cited strong earnings supported by around 22% year-on-year loan growth. It also noted that the CASA ratio improved to around 52.5%, while deposit growth of nearly 14% year-on-year remained below advances growth. Risks in agriculture and MSME portfolios remain key monitorables.
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