Buzzing Stocks: PNB rallies 4% on booming Q1 earnings while HDFC, Kotak & Axis tumble

July 20 2026 – The market’s attention is glued to a handful of names after the June‑quarter (Q1 FY27) results rolled out. Punjab National Bank (PNB) stole the show, rallying about 4% on the back of a profit surge that would make most CEOs grin.

PNB reported a net profit of ₹5,253.3 crore, a jaw‑dropping 213.6% increase from the same period a year ago. Even the bank’s net interest income (NII) edged up, reaching ₹10,798.4 crore – a modest 2.1% rise but enough to reassure investors that the core business is humming.

Contrast that with the big three private lenders. HDFC Bank’s shares slipped roughly 4% even though its bottom line grew 5% YoY to ₹19,059.7 crore. The NII climbed 6.7% to ₹33,534 crore, so the dip seems more about market sentiment than a performance miss.

Kotak Mahindra Bank wasn’t spared either; its stock fell about 3% despite a 25.6% profit jump to ₹4,123 crore and a 9.2% rise in NII. Axis Bank took the biggest hit, sliding around 5% after posting a 22.5% profit increase to ₹7,113.9 crore and an 8% lift in NII. Analysts are puzzling over why solid numbers aren’t translating into buying pressure – perhaps investors are waiting for guidance on future credit growth.

On a different note, infrastructure‑focused VA Tech WABAG added over 4% to its share price after winning multiple contracts with the Bangalore Water Supply and Sewerage Board (BWSSB). The deals cover design‑build‑operate projects for a 100 MLD sewage‑treatment plant at Byramangala, a 60 MLD plant at Bellandur, and a 25 MLD tertiary‑treatment plant, also at Byramangala. It’s a clear reminder that water‑treatment is still a hot growth arena in India.

Overall, today’s session is likely to stay choppy. Investors will be chewing over earnings, brokerage upgrades and the fresh contracts for WABAG. Expect the usual swings as the market digests both the good news and the subtle worries lingering behind the numbers.