Shares of PNB Housing Finance were locked in the upper circuit of 20 per cent for the second straight day, hitting a fresh 52-week high of Rs 630.20 on the BSE in Tuesday s trade after the company on Monday said the private equity firm Carlyle Group and associates will acquire stake by investing in the Rs 4,000 crore preferential issue of equity and warrants of the company. Pluto Investments, an affiliate of Carlyle Asia Partners, will invest up to Rs 3,185 crore through a preferential allotment of equity shares and convertible warrants at Rs 390 per share, for a 30.2 per cent in PNB Housing Finance’s expanded capital.
ICICI Securities has buy call on
PNB Housing Finance with a target price of Rs 678. The current market price of PNB Housing Finance Ltd. is Rs 630.2. Time period given by analyst is one year when PNB Housing Finance Ltd. price can reach defined target.
PNB Housing Finance Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 8845.01 Crore) operating in NBFC sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1833.90 Crore, down -3.29 % from last quarter Total Income of Rs 1896.35 Crore and down -6.04 % from last year same quarter Total Income of Rs 1951.84 Crore. Company reported net profit after tax of Rs 127.03 Crore in latest quarter.
PNB Housing Finance has announced a fundraise of ₹4,000 crore. The fundraising will be led by The Carlyle Group and former HDFC Bank CEO Aditya Puri. Shares
Read more about PNB Housing Fin zooms 20% on board nod to raise Rs 4,000 crore on Business Standard. Carlyle has agreed to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 per share
Markets traded with negative sentiments through-out the day on Thursday on weaker global cues as Nifty slipped below 15,100, dragged by metals and weakness in financial services stocks. The Nifty managed to close at 14,906, slashing 124 points, PSU Banks and Realty sector traded with positive sentiments whereas metals, private banks and automobiles closed in the red mark with marginal loss. Nifty bank closed at 33,334, slashing 351 points from the previous day’s closing. As per weekly option data, handful of call writing on higher strikes, ranging from 15,100 to 15,300, happened which shows Nifty would face stiff resistance in the sub15,200 zone.15,000 will act as support as maximum put OI is placed here. We can witness short-covering move along with addition of fresh position only if Nifty breaches 15,200. Therefore, traders should try to create short position keeping close eye on 15,200.