Shares of PNB Housing Finance recovered from the day's low to surge over 3% after a large block deal that took place on the exchanges.
As many as 2.6 crore shares, amounting to 9.94% of the company's total equity exchanged hands in a large transaction, valued at ₹2,141.3 crore.
The average price at which the shares exchanged hands is ₹840 per share, according to data available.
The buyers and sellers in the transaction are not known as yet.
Based on the September quarter shareholding pattern, General Atlantic Singapore Fund Fii Pte Ltd. held a 9.82% stake in PNB Housing, while Investment Opportunities V Pte. held a 9.88% stake.
PNB Housing shares were trading with losses earlier in the day in reaction to their quarterly results. The company's disbursal to AUM ratio is the weakest among its peers.
Both Net Interest Margin and spreads were at the lowest level in six quarters.
Shares of PNB Housing are currently trading 0.7% lower at ₹853.95. The stock faced selling pressure after hitting the day's high of ₹913.7 after the block deal.
(Edited by : Amrita)
First Published: Jan 25, 2024 2:38 PM IST
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