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Last Updated : Oct 17, 2019 11:56 AM IST | Source: Moneycontrol.com

PNB Housing Finance gains 14%; Morgan Stanley maintains underweight

During Q2 FY19-20, the company raised $175 million through ECB route. The company also raised NCD of Rs 500 crore.

 
 
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The share price of PNB Housing Finance added 14 percent intraday on October 17 despite Morgan Stanley maintained underweight call on the stock with a target of Rs 550 per share.

It had touched a 52-week low of Rs 371.90.

During Q2 FY19-20, the company disbursed loans amounting to Rs 4,970 crore, while retail disbursements during the quarter were Rs 4, 718 crore and corporate disbursements were Rs 252 crore.

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The asset under management is Rs 89,471 crore and loan asset is Rs 74,353 crore as on September 30, 2019. Its Gross NPA stood at 0.73 percent of the asset under management, the company said.

During Q2 FY19-20, the company raised $175 million through External commercial borrowing (ECBs) route. The company also raised non-convertible debentures (NCDs) of Rs 500 crore.

The board, on October 24, 2019, will record/approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2019.

The board will also consider the issuance of secured and unsecured non-convertible debentures aggregating up to Rs 10,000 crore in tranches.

At 11:10 hrs PNB Housing Finance was quoting at Rs 406.50, up by Rs 26.40, or 6.95 percent on the BSE.

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First Published on Oct 17, 2019 11:56 am
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