New Delhi: Shares of PNB Housing Finance plunged nearly 8 per cent on Thursday after the company's December quarter results failed to cheer investors. The stock declined 7.80 per cent to close at Rs 858 per share on the NSE. On the BSE, the stock slumped 7.78 per cent to settle at Rs 859 apiece.
In the intraday session, PNB Housing Finance's shares tumbled 10 per cent to hit lower circuit levels on both NSE and BSE. The stock hit the lower circuit of Rs 837.50 on NSE and Rs 838.35 apiece on BSE. In volume terms, 76.97 lakh equity shares of PNB Housing Finance were traded on the NSE, while 2.51 lakh shares were traded on the BSE during the day.
Meanwhile, the markets ended in the positive territory, with the 30-share BSE Sensex jumping by 397.74 points, or 0.49 per cent, to close at 82,307.37. The 50-share NSE Nifty rose 132.40 points, or 0.53 per cent, to settle at 25,289.90. On Wednesday, PNB Housing Finance reported almost an 8 per cent increase in net profit to Rs 520.35 crore in the December quarter.
The non-banking financial company, promoted by Punjab National Bank, had earned a net profit of Rs 483.3 crore in the same quarter of the preceding fiscal year. Interest income also grew to Rs 2,019.39 crore during the quarter under review from Rs 1,848 crore, reflecting healthy loan growth.
Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.
