Ways2Capital Equity Update: PNB Housing Finance gains 5% as NHB sanctions Rs 3,500cr refinance facility

Shares of PNB Housing Finance gained 5.3 percent intraday Monday after it obtained refinance sanction of Rs 3,500 crore from the National Housing Bank (NHB) in October, 2018.

The funds will be utilised for the specific sector wise disbursements / end uses as per norms of the respective NHB refinance schemes.

“This is yet another long-term source of borrowings followed to ECB of USD 200 million we raised in the current, challenging environment, driven by our strong fundamentals. With availment of these funds the share of long term borrowings will increase in the overall borrowings and aid our constant endeavour to keep short term money at levels of 12% and below.”

At 11:35 hrs PNB Housing Finance was quoting at Rs 964.40, up Rs 35.65, or 3.84 percent.

The share touched its 52-week high Rs 1,444 and 52-week low Rs 694 on 03 May, 2018 and 26 October, 2018, respectively.

Currently, it is trading 33.15 percent below its 52-week high and 39.09 percent above its 52-week low.

The share price fell 30 percent in the last 1 year.

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