PNB Housing Finance zooms after opening 'Roshni' branches for affordable housing loans

On Monday, the stock opened at Rs 478.45 and touched a high and low of Rs 504.90 and Rs 461.05, respectively.

Today, shares of PNB Housing Finance closed at Rs 507.40, up by 40.25 points or 8.62% from its previous closing of Rs 467.15 on the BSE.

PNB Housing Finance has formed 'Roshni' branches in several locations, including tier II and III cities, to expand its customer base in the affordable housing segment. The company has also renewed its commitment to the government's ‘Housing for All’ mission through its affordable home loan scheme Roshni.

The company would provide retail loans to consumers for Rs 5 lakh to Rs 30 lakh as part of this initiative. Customers in this market will be served by the Roshni branches of the company that were recently launched in Varanasi, Chennai, Coimbatore, Ghaziabad, Hyderabad, Indore/Ujjain, Lucknow, Mumbai, Nagpur, and Pune.

PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). The Company offers retail customers housing and non-housing loans, including individual home loans, loans against property, and non-resident property loans, among others. It is promoted by Punjab National Bank.

The promoters holding in the company stood at 32.57%, while Institutions and Non-Institutions held 26.52% and 40.91% respectively.

The BSE group 'A' stock of face value of Rs 10 has a 52-week high and low of Rs 536.20 and Rs 312.00, respectively.

Last one week high and low of the scrip stood at Rs 519.00 and Rs 420.10 respectively. The current market cap of the company is Rs 8108.24 crore.

Shares of PNB Housing Finance are currently trading at a P/E of 9.22x with ROE and ROCE of 8.24% and 7.85%, respectively.