Shares of a Housing Finance Company jumped 2% on BSE to Rs. 795.05 on Wednesday, after the Government of Singapore, Aditya Birla Sun Life and others bought stake in the company through open market transaction, bringing the total deal value to nearly Rs. 1,131.8 crore.
At 11:07 a.m., the shares of PNB Housing Finance Limited were trading in the green at Rs. 790.15, up by 1.4 percent, compared to its previous closing price of Rs. 779.35, with a market cap of Rs. 20,522.4 crores.
What’s the News:
According to the 30th July bulk deal data available with the BSE, the foreign investor Government of Singapore bought 61.6 lakh equity shares valued at Rs. 477.6 crore in PNB Housing Finance, at an average price of Rs. 775 per share. Meanwhile, the Monetary Authority of Singapore purchased nearly 14 lakh shares worth Rs. 108.5 crore.
Aditya Birla Sun Life Mutual Fund bought 29.03 lakh shares at the same price, totalling Rs. 225 crores, while ICICI Prudential Life Insurance Company Limited acquired 14.19 lakh shares, approximately worth Rs. 110 crores.
Additionally, DSP Blackrock Mutual Fund and HSBC Mutual Fund purchased 13.7 lakh shares and 13.4 lakh shares in the housing finance company, valued at around Rs. 106.2 crore and nearly Rs. 104.5 crore, respectively.
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However, Carlyle Group through its affiliate Quality Investment Holdings PCC offloaded a total of 3.32 crore equity shares in the company for about Rs. 2,578 crore, at an average price ranging from Rs. 775.02 to Rs. 775.25 per share.
As of June 2024, Carlyle Group, via Quality Investment Holdings PCC, held ~8.48 crore equity shares, representing a 32.68 percent stake in PNB Housing Finance, according to BSE shareholding data.
Financials:
The bank experienced significant growth in its total income, showing a year-on-year rise of nearly 6.8 percent from Rs. 1,707.6 crore in Q1 FY23-24 to Rs. 1,823 crore in Q1 FY24-25.
Similarly, its net profit increased during the same period from Rs. 347.3 crore to Rs. 433 crore, indicating a growth of around 25 percent YoY.
Net Interest Income (NII) grew by 4 percent YoY and 3 percent QoQ to Rs. 651 crore, while the bank’s Net Interest Margin (NIM) stood at 3.65 percent in Q1 FY24-25 as compared to 3.86 percent in Q1 FY23-24.
Stock performance:
The stock has delivered nearly positive returns of nearly 24.5 percent in one year as well as around 0.6 percent year-to-date.
About the company:
Incorporated in 1988, PNB Housing Finance Limited is primarily engaged in the business of providing loans to individuals and corporate bodies for the purchase, construction, repair and up-gradation of houses.
It is a deposit-taking Housing Finance Company registered with the National Housing Bank (NHB) that also provides loans for commercial space, loans against property and loans for the purchase of residential plots.
Written by Shivani Singh
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