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Shares of PNB Housing Finance Ltd crashed nearly 18% on the record date of rights issue today. PNB Housing Finance shares, which closed at Rs 540.90 on NSE in the last session, plunged to an intraday low of Rs 445.15 on NSE. The stock opened lower at Rs 447.05 on NSE. Later, the stock recovered 7.02% to hit the day’s high of Rs 476.40. Market cap of the firm stood at Rs 12,139 crore. ....
Shares of PNB Housing Finance have tumbled 56 per cent from their 52-week high amid a highly volatile market. PNB Housing Finance, which hit a 52-week high of Rs 756.45 on August 5, 2021, is currently trading at Rs 333, translating into a decline of 55.94 per cent during the period. The arm of Punjab National Bank has seen its sales falling constantly since the quarter ended September 2020. Sales which stood at Rs 2,015.51 crore for the September 2020 quarter fell to Rs 1,425 crore in the quarter ended March 2022. ....