PNB Housing share price target 2024: Care Ratings has upgraded rating of PNB Housing to CARE AA+ stable from CARE AA over positive outlook. The rating agency has upgraded rating for various instruments.
PNB Housing Finance share price target
Brokerage firm Motilal Oswal has given ‘buy’ rating for PNB Housing Finance stocks at the CMF of Rs 631 apiece with a target price of Rs 1025 each with an upside of 62 per cent.
PNB Housing Finance share price
PNB Housing Finance stock closed at Rs 627.65 apiece on March 28 with a drop of 0.43 per cent, against the previous day close of Rs 630.35 apiece. The stock peaked at Rs 639.30 apiece and touched Rs 625.45 apiece during the session. Earlier, it opened at Rs 633.55 apiece on Thursday, March 28.
PNB Housing Finance boasts a market cap of Rs 16,344.42 crore. The 52-week stock movement is a high of Rs 913.95 apiece and a low of Rs 392.27 apiece.
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PNB Housing Finance Q3 2024 result
The revenue growth of the Company remained flat quarter-on-quarter to Rs 1,748 crore in Q3 FY24, versus Rs 1,766.14 crore in Q2 FY24. However, there remained a marginal drop in the net profit to Rs 346.54 crore in Q3 FY24.
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PNB Housing Finance share price history
The stocks of PNB Housing Finance have performed poorly this year till now, reflecting weak sentiments among investors and concern over decreasing profitability. The stocks have down to -7.49 per cent within past six months.
However, in the long term, the stock have given some good returns to investors. In the perspective of long duration, the one- and three-year returns stood at 56.30 per cent and 104 per cent respectively.
PNB Housing Finance Rights Issue 2023
PNB Housing Finance issued Rights Issue of equity shares last year with an ex-date of April 05, 2023. Rights issue allows existing shareholders to purchase additional equities in the Company at a discount price for a certain period. It allows cash-strapped company to raise funds for various measures.
About PNB Housing Finance
PNB Housing is engaged in the housing finance sector, offering a range of Home Loan and related financial products. It is promoted by Punjab National Bank.
