PNB Housing Finance Ltd Share Price – NSE  /  BSE

Finance, Small Cap

PNB Housing Finance will hold a meeting of the Board of Directors of the Company on 29 April 2024.

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Westlife Foodworld Ltd, KRBL Ltd, Sterlite Technologies Ltd, Tejas Networks Ltd are among the other stocks to see a surge in volumes on NSE today, 01 April 2024.

PNB Housing Finance Ltd witnessed volume of 63.38 lakh shares by 14:14 IST on NSE, a 15.92 times surge over two-week average daily volume of 3.98 lakh shares. The stock increased 12.88% to Rs.711.00. Volumes stood at 2.71 lakh shares in the last session.

Westlife Foodworld Ltd notched up volume of 5.69 lakh shares by 14:14 IST on NSE, a 5.71 fold spurt over two-week average daily volume of 99611 shares. The stock rose 0.07% to Rs.805.05. Volumes stood at 1.82 lakh shares in the last session.

KRBL Ltd recorded volume of 23.92 lakh shares by 14:14 IST on NSE, a 5.34 times surge over two-week average daily volume of 4.48 lakh shares. The stock gained 11.79% to Rs.310.05. Volumes stood at 6.41 lakh shares in the last session.

Sterlite Technologies Ltd clocked volume of 103.94 lakh shares by 14:14 IST on NSE, a 4.03 times surge over two-week average daily volume of 25.79 lakh shares. The stock gained 11.06% to Rs.123.05. Volumes stood at 28.15 lakh shares in the last session.

Tejas Networks Ltd recorded volume of 9.84 lakh shares by 14:14 IST on NSE, a 3.55 times surge over two-week average daily volume of 2.77 lakh shares. The stock gained 9.99% to Rs.722.00. Volumes stood at 3.52 lakh shares in the last session.

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BASF India Ltd, JSW Steel Ltd, Lupin Ltd, KRBL Ltd are among the other stocks to see a surge in volumes on BSE today, 01 April 2024.

PNB Housing Finance Ltd recorded volume of 1.15 lakh shares by 10:46 IST on BSE, a 5.61 times surge over two-week average daily volume of 20482 shares. The stock gained 13.11% to Rs.711.80. Volumes stood at 26800 shares in the last session.

BASF India Ltd clocked volume of 4438 shares by 10:46 IST on BSE, a 4.06 times surge over two-week average daily volume of 1094 shares. The stock gained 6.99% to Rs.3,570.00. Volumes stood at 766 shares in the last session.

JSW Steel Ltd clocked volume of 2.03 lakh shares by 10:46 IST on BSE, a 3.05 times surge over two-week average daily volume of 66597 shares. The stock gained 4.58% to Rs.869.45. Volumes stood at 85589 shares in the last session.

Lupin Ltd notched up volume of 24359 shares by 10:46 IST on BSE, a 3.03 fold spurt over two-week average daily volume of 8052 shares. The stock rose 1.15% to Rs.1,636.45. Volumes stood at 9186 shares in the last session.

KRBL Ltd clocked volume of 78086 shares by 10:46 IST on BSE, a 2.06 times surge over two-week average daily volume of 37849 shares. The stock gained 7.32% to Rs.297.80. Volumes stood at 49635 shares in the last session.

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The rating upgrade factors in the sustained improvement in PNB Housing Finance’s (PNBHFL) credit profile, driven by the improved asset quality metrics and the strengthened capitalisation profile.

The company has an established track record in the mortgage finance industry with assets under management (AUM) of Rs. 68,549 crore and loan book of Rs. 62,337 crore as on 31 December 2023.

The reported gross non-performing assets (NPAs) declined to 1.7% as on 31 December 2023 from 3.8% as on 31 March 2023 (8.1% as on 31 March 2022), aided by the sale to asset reconstruction companies (ARCs), write-offs, recoveries and lower incremental slippages.

Further, the company’s managed gearing declined to 3.9 times in December 2023 from 5.6 times in March 2023 (6.3 times in March 2022), driven by the Rs. 2,494-crore fresh equity capital raised in 9M FY2024.

In ICRA’s opinion, PNBHFL is well capitalised to support its envisaged growth plans in the near-to-medium term.

The rating remains constrained by the moderate, albeit improving, profitability metrics.

While PNBHFL has been able to improve its yields and interest margin with the revision in the lending rates, it was partially offset by an increase in operating expenses on account of investments in information technology (IT) infrastructure upgradation as well as branch expansion for affordable business vertical.

Given the intense competition in the mortgage finance business, the company’s ability to maintain its net interest margin while improving its operating efficiency and controlling the credit costs will be important from a credit perspective.

PNB Housing Finance is a deposit-accepting housing finance company, with second largest deposits outstanding within housing finance companies. The company provides housing loans to individuals for purchase, construction, repair, and upgrade of houses.

The housing finance company’s consolidated net profit rose 25.75% to Rs 338.44 crore in Q3 FY24 as against Rs 269.13 crore reported in Q3 FY23. Total income declined 2.26% year on year to Rs 1756 crore in the quarter ended 31 December 2023.

The scrip had shed 0.22% to end at Rs 629.30 on the BSE on Thursday.

Domestic equity markets are shut today on account of Good Friday.

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