The shares of this housing finance company jumped around 3 percent after the board planned to consider and approve the issuance of Non-Convertible Debentures. In the past six months, the company’s stock has delivered more than 70 percent to its stakeholders.
With a market capitalization of Rs. 20,151 crores, the shares of PNB Housing Finance shares opened Friday’s trading session on a positive note at Rs. 777.10. The share hit a high of Rs. 802.95 making a gain of around 3 percent and currently trading at Rs. 798.80 apiece.
Such a positive movement was observed after the company in an exchange filing mentioned that the Board of Directors of the Company to consider and approve the issuance of non-convertible debentures up to Rs. 3,500 Crore on a Private Placement Basis, in tranches over the next six months.
Looking into financial statements, the company’s revenue magnified by 112 percent from Rs. 6.32 crores in Q1 FY24 to Rs. 13.42 crores during Q2 FY24. On a contrasting note, the net loss of the company increased by 24 percent from Rs. 41.54 crores to Rs. 51.68 crores during the same period.
The company’s stock has delivered multibagger returns of 130 percent to its stakeholders in one year. For example, if someone had invested Rs. 1 lakh a year ago, then, the worth of those shares would be Rs. 2.3 lakhs now.
According to the latest shareholding pattern, Promoters have a 39.9 percent stake in the company, Retail Investors have a considerable stake of 51.20 percent, FIIs have 3.91 percent, and the remaining 5.50 percent is with DIIs.
Headquartered in Mumbai, Punjab Housing Finance Ltd was incorporated in the year 2002. The company provides housing loans to individuals and corporate bodies for the purchase, construction, repair, and upgradation of houses. It also provides loans for commercial space, loans against property, and loans for the purchase of residential plots.
Written By Vaibhav Patil
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