Bank of Maharashtra shares gain 4%, hit over 1-year high on strong Q3 show
Bank of Maharashtra reported that its net interest income (NII) rose 16.27 per cent Y-o-Y to ₹3,422 crore in the third quarter (Q3FY26)
 "Bank of Maharashtra shares gain 4%, hit over 1-year high on strong Q3 show")
Bank of Maharashtra share price today: Bank of Maharashtra share price rose to the highest level in over one year as the bank's earnings improved and asset quality remained stable in the third quarter (Q3FY26).
Bank of Maharashtra share price increased 4.14 per cent to ₹67.74, the highest level since July 31, 2024.
The scrip has extended gains to a fourth consecutive session. In the last 12 months, the Bank of Maharashtra stock has risen 24.52 per cent compared to an 11.41 per cent increase in the Nifty 50 index.
Bank of Maharashtra share price pared most gains to trade 0.85 per cent to ₹65.60 as of 11:18 AM, as compared to a 0.17 per cent advance in the Nifty 50 index.
Why did Bank of Maharashtra share price rise today?
Bank of Maharashtra share price increased on Wednesday after the lender reported an increase in net interest income (NII) and net profit in the December quarter of the current financial year (Q3FY26).
Bank of Maharashtra reported that its net interest income (NII) rose 16.27 per cent on Y-o-Y basis to ₹3,422 crore in the third quarter as against ₹2,943 crore in the corresponding period of the previous financial year.
Its domestic net interest margin (NIM) stood at 3.87 per cent, according to the exchange filing.
The lender’s net profit grew 26.51 per cent Y-o-Y to ₹ 1,779 crore from ₹1,406 crore reported in Q3FY25.
As of December 2025, the gross non-performing assets (GNPA) fell 1.60 per cent, down 12 basis pointd from Q2FY26. The net non-performing asset (NPA), too, declined by 3bps Q-o-Q to 0.15 per cent.
The SMA 1 & 2 book (accounts above ₹5 crore) showed an improvement, declining by 18 bps to 1.69 per cent, while the overall stress in the loan book stood at 3.35 per cent. The bank has a Provision Coverage Ratio (PCR) of 98.4 per cent.
The lender implemented a strict floor for credit scores, permitting no new underwriting for customers with a credit score below 681. That apart, Bank of Maharashtra's gross advances grew by 7.6 per cent Q-o-Q and 19.6 per cent Y-o-Y. Of this, retail advances grew at 36 per cent Y-o-Y supported by growth in vehicle advances (up 53.8 per cent Y-o-Y) and Housing loans (up by 27.5 per cent Y-o-Y).
On the Deposits front, the total deposits grew 3.8 per cent Q-o-Q and 15.3 per cent Y-o-Y supported by CASA growth of 15.9 per cent Y-o-Y along with TD (term deposit) improvement of 14.7 per cent Y-o-Y.
Interim Dividend
The board of the Bank of Maharashtra declared an interim dividend of ₹1 per equity share of face value of ₹10 per share for the financial year 2026, which is within the permissible limit of the Reserve Bank of India.
Analysts View:
Bank of Maharashtra's management expects 18-20 per cent deposits to reprice in the March quarter (Q4FY26), while the full impact of 25-basis-point rate cut will be visible correspondingly. The management has maintained the net interest margin (NIM) guidance at 3.75 per cent. They also guided that the slippages and credit costs to remain below 1 per cent.
"We have increased our NII estimates by 6.3 per cent for FY26, 4.4 per cent for FY27, and 1.8 per cent for FY28. Likewise, we have increased net profit estimates by 16.9 per cent, 8.3 per cent, and 2.5 per cent for the respective years, to factor in strong advances growth and other business aspects," said analysts at Systematix Institutional Equities.
The brokerage had earlier assumed a capital dilution of 5 per cent in FY26E. However, as the bank took the OFS route to reduce the government stake, it has reversed this assumption and raised its share price target to ₹80 (from ₹73 earlier). Systematix Institutional Equities has a 'Buy' rating on Bank of Maharashtra stock.
The brokerage maintained a 'Buy' rating on the stock and hiked the target price to ₹80, which implies 23 per cent upside. Technically, Jigar S. Patel, senior manager, equity technical research at Anand Rathi Share and Stock Brokers, believes Bank of Maharashtra stock looks overstretched on the charts as most technical indicators are placed in the 'overbought' zone, signalling that the recent rally may be losing steam. "The risk–reward at current levels is no longer favourable, and the stock may witness consolidation or a corrective move in the near term. Hence, Anand Rathi Share and Stock Brokers advised traders to book profits at elevated levels and avoid fresh buying until the stock cools off, and offers a healthier entry opportunity with fresh technical confirmation," Patel said.
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