Recently, PNB Housing Finance posted its report for the second quarter of the current fiscal year Q2FY24. In its Q2 result, PNB Housing Finance claimed that the firm’s stock increased by 111 percent from its 52-week low level to its 52-week high level. Reportedly, on October 19 PNB Housing Finance touched its 52-week high while its 52-week low came on November 21, 2022. Despite robust growth in the second quarter of the current fiscal year, the share price of PNB Housing Finance reportedly slipped more than 3 percent following the release of Q2FY24 results. Although the experts are still upbeat toward the share price of PNB Housing Finance. What they have predicted and suggested about the share price of PNB Housing Finance? It has been answered in the following sections of this article. Stick with this page and keep reading this article.
When the market opened on Wednesday, October 25, 2023, in the morning, the share price of PNB Housing Finance showed a volatile behavior during the early trade hours on BSE. Reportedly, PNB Housing Finance stock opened at Rs 728.95. However, it closed at Rs 718.30 on Tuesday. On Wednesday it opened with a growth of 2 percent to the level of Rs 730.40 but it suddenly dropped by more than 3 percent taking its value to Rs 694.20. The stock of PNB Housing Finance was trading at 10:05 am at 1.29 percent lower to the level of 709 on BSE. Shift to the next section and read more details.
PNB Housing Finance’s share price hit its 52-week high of Rs 784.40 on October 19, 2023, and its 52-week low of Rs 340.68 on November 21, 2022. The stock has increased about 111 percent from its 52-week low level of Rs 340.68. The PNB Housing Finance’s stock previously closed at Rs 718.30 on Tuesday evening. On Monday, October 24, PNB Housing Finance posted its results for the second quarter (July-September quarter) of the current fiscal (Q2FY24).
It reported a surge of 45.9 percent in net profit at Rs 383 crore against the corresponding period of the previous fiscal year when it reported Rs 262.6 crore. PNB Housing Finance Limited claimed in a regulatory filing, the total revenue generated from operations in Q2FY24 was reported Rs 1,777.8 crore showing a growth of 5.5 percent against Rs 1,684.4 crore in the year-ago period. The non-banking finance company’s (NBFC’s) total income increased to Rs 1,779.4 crore in the second quarter, compared to Rs 1,683.43 crore in the corresponding period of the last financial year. Stay tuned.