Shares of Bank of Maharashtra surged on Tuesday, reaching a 52-week high and marking a second consecutive session of gains following the lender’s strong financial results for the March quarter.
The stock increased by over 6 percent, reaching ₹80.50, before settling at ₹80.18 on the National Stock Exchange (NSE), up from the previous close of ₹75.54. The rise came as a direct response from investors to the bank’s robust earnings report and growth outlook.
The uplift followed the announcement of impressive financial figures for the quarter ended March 2026, with the bank reporting a standalone net profit of ₹2,014.09 crore—up significantly from ₹1,493.08 crore in the same quarter last year. For the entire financial year FY26, the profit after tax also rose to ₹7,019.32 crore from ₹5,519.79 crore the previous year, indicating sustained momentum in business operations.
In addition to its strong earnings, the bank’s board proposed a final dividend of ₹1.20 per share, supplementing an interim dividend of ₹1 announced earlier in January 2026, which has already been disbursed.
The bank also unveiled ambitious plans for capital raising and funding, approving proposals to raise up to ₹7,500 crore through various routes, including equity issuance via preferential allotment, qualified institutional placement, follow-on public offers, or rights issues, as well as through Basel III-compliant bonds. Furthermore, the board approved plans to issue long-term infrastructure bonds worth up to ₹10,000 crore in FY27 and to raise up to USD 500 million via foreign currency bonds in multiple tranches.
Brokerage firm HDFC Securities expressed a positive outlook on the stock, citing strong fundamentals driving the bank’s continued outperformance. The firm highlighted that the healthy Q4FY26 earnings were fueled by robust credit growth of 22 percent year-on-year, stable margins, and improvements in asset quality.
HDFC Securities noted that while deposit growth at 14 percent trailed advances, the bank’s CASA (current account savings account) ratio improved significantly to 52.5 percent, bolstered by seasonal strength in current account balances. It also reported that credit costs remained manageable at below 1 percent, with particular asset quality improvements noted in the agriculture sector.
The firm emphasized that the bank’s strong deposit franchise, supported by a high share of low-cost current account balances, continues to enhance its margin profile. Considering the higher business growth and improved asset quality, HDFC Securities raised its earnings estimates for FY27 and FY28 by about 4 percent, reaffirming a buy rating for the stock and setting a revised target price of ₹90.
The sharp uptick in shares reflects growing investor confidence in the bank’s growth trajectory, backed by enhanced profitability, solid balance sheet metrics, and ongoing operational momentum.
Published on April 21, 2026.
