Pnb Housing Shares End Another 8% Higher; Profits In Five Out Of Six Sessions | Popgen Tech

Shares of PNB Housing Finance Ltd rose more than 9 percent in intraday trade on Monday. Opening with a gain of Rs 470, the shares rose to touch the day’s high of Rs 511.50 before closing with some corrections.

The housing finance stock has gained in five of the last six trading sessions, defying the overall mood of the market during the period.

Among the best housing finance companies in India, PNB Housing Finance Ltd. has a market capitalization of Rs 8,487 crore, with its stock registering a 52-week high of Rs 536.2 per share on December 17, 2021.

The company last week inaugurated branches of its affordable home loan scheme ‘Roshni’ in various locations in the country, including tier II and III cities, to deepen the customer base its in the affordable housing section.

On November 30, the housing finance company announced that its board of directors approved the issuance of equity shares through a rights issue to existing shareholders for no more than Rs 2,500 crore.

Its net interest income (NII) improved by 29 percent from the corresponding quarter in the previous year and 75 percent from the previous quarter. The NII stood at Rs 649 crore for the period under review.

Shares of PNB Housing Finance ended the day’s trade at Rs 505.10 apiece, up 8.12 percent or Rs 37.95 on the BSE.