PNB Housing Finance surges on focussing on affordable housing business 'Unnati'
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PNB Housing Finance is currently trading at Rs. 439.15, up by 3.75 points or 0.86% from its previous closing of Rs. 435.40 on the BSE.
The scrip opened at Rs. 443.95 and has touched a high and low of Rs. 443.95 and Rs. 437.50 respectively. So far 3826 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 924.00 on 08-Jun-2021 and a 52 week low of Rs. 333.00 on 01-Feb-2021.
Last one week high and low of the scrip stood at Rs. 444.50 and Rs. 403.00 respectively. The current market cap of the company is Rs. 7403.46 crore.
The promoters holding in the company stood at 32.57%, while Institutions and Non-Institutions held 26.79% and 40.64% respectively.
PNB Housing Finance is focussing on its high-yielding affordable housing business 'Unnati' in tier-II and -III cities and targets to operationalize 25 new branches by March this year. Besides, the housing financier targets to increase the Unnati business from 9 percent currently to about 12-14 percent going forward. The company opened 13 Unnati locations during the quarter ended December 2021.
The company initiated a transformational 'Project IGNITE' last fiscal year, aimed at boosting the affordable housing business, enhancing its core capabilities by catering to the self-employed segment as well as creating differentiators to beat the competition in the salaried segment loan market, among others.
PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.
