Shares of PNB Housing Finance Ltd. climbed over 9 percent in intraday trade on Monday. Opening with a gain at Rs 470, the shares rallied to touch a day 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 market mood during the period.
Among the top housing finance companies in India, PNB Housing Finance Ltd. has a market capitalisation of Rs 8,487 crore, with its stock recording a 52-week high of Rs 536.2 per share on December 17, 2021.
The company last week inaugurated the branches of its affordable home-loan scheme ‘Roshni’ across various locations in the country, including tier II and III cities, to deepen its customer base in the affordable housing section.
On November 30, the housing finance company announced that its board of directors approved the issue of equity shares through a rights issue to existing shareholders for not 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.
The shares of PNB Housing Finance finished the day’s trade at Rs 505.10 per piece, up by 8.12 percent or Rs 37.95 on the BSE.
