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PNB Housing Finance Ltd's (PNBHFL) shares continued with their record upward march in the bourses on Wednesday, locking into the upper circuit (this time 10 per cent) at ₹693.8, up ₹63 over the previous day’s close of ₹630.75.
Today's 10 per cent rise helped the PNBHFL stock hit a 52-week high and came on top of the two back-to-back 20 per cent jumps (upper circuit) in each of the last two days, to close at ₹630.75 on Tuesday at NSE.
The PNBHFL stock has gained 58 per cent when compared to last Friday's close of ₹438.05, on the back of Monday's announcement that the Carlyle Group will be getting a controlling stake in PNBHFL after it pumps in ₹3,185 crore (out of a total capital raise of ₹4,000 crore) via the preferential allotment route.
Brokerages and foreign investment advisory firms have already given a thumbs-up to PNBHFL Board's approval for a preferential issue, as it reduces the overhang on a much awaited equity infusion and/or stake sale.
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