PNB Housing Finance has recently released its quarterly results, in which the company’s profit has increased by 23% year on year and 9% compared to the first quarter to ₹472 crore. Income also increased by 5.7% to ₹1869 crore. The asset quality of the company has also improved, due to which a decline in gross and net NPA has been seen.
Quality Investment’s stake sale plan
According to sources, Quality Investment Holdings PCC is planning to sell its major stake in PNB Housing Finance. This sale can be done at a price of ₹939.3 per share, which is 4% discount from the current market price.
possibility of big deal
Sources have informed that 2.45 crore shares can be sold in this offer, which is equal to 9.43% of the total stake of the company. Quality Investment held 19.87% stake in PNB Housing Finance at the end of September 2024.
Stake of promoters and mutual funds
Promoter Punjab National Bank holds 28.11% stake in PNB Housing Finance. At the same time, mutual funds have a total stake of 16%. This potential deal could bring fluctuations in the company’s share price.
stock market performance
PNB Housing Finance stock closed 2.2% higher at ₹987.4 in Tuesday’s trade. The company’s year’s highest level has been ₹1201 and lowest level has been ₹600.4. The stock has shown a spectacular rise from below ₹800 in the last one year.
Impact of decreasing share of quality investment
If Quality Investment sells its 9.43% stake, it could put pressure on PNB Housing Finance shares. For this reason investors should keep an eye on this big transaction.
What is the strategy for investors
Experts believe that the stake sale by Quality Investment may cause some fluctuations in the stocks of PNB Housing Finance in the short term. Investors should take investment decisions only after assessing the current market situation.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.