PNB Housing Finance shares gain on board approval to raise Rs 2,500 crore via NCDs

PNB Housing Finance board approves raising Rs 2,500 crore via NCDs.

The share price of PNB Housing Finance touched an intraday high of Rs 1,100 apiece on the NSE after the board approved plans to raise Rs 2,500 crore via NCDs. The stock rose 7.48 percent from its previous close. It gained after two days of consecutive fall.

The sharp uptrend in the stock was witnessed after the board of directors at its meeting held on September 9 approved the issuance of non-convertible-debentures (NCDs) up to Rs 2,500 crore in tranches over the next six months.

A total of 2.19 lakh shares changed hands today of PNB Housing Finance, which is a constituent of BSE 500 index generating a total turnover of Rs 23.06 crore.

The company has a market cap of Rs 28,025.60 crore, as per BSE website. The shares of the company have a PE of 16.51x. In terms of volume, over 36.89 lakh shares of the company were traded on the NSE during the day.

The company's shares have delivered multibagger returns of 105.28 percent in the last three years, as per data available on the BSE.

At the close of market hours, the shares settled at Rs 1,076.60 per share on the NSE, up 5.20 percent.

PNB Housing Finance has witnessed several significant stake sales in recent months, with major players like The Carlyle Group, General Atlantic Singapore, and Asia Opportunities V (Mauritius) among sellers.

The company reported a 25 percent increase in net profit for the first quarter of the fiscal year, reaching Rs 433 crore, driven by steady growth in home loans.

Disbursements rose 19 percent year-on-year to Rs 4,398 crore, with retail disbursements accounting for 99 percent. Emerging markets and affordable housing segments contributed 33 percent of the retail disbursements during the quarter.

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