Is PNB Housing Finance a Good Buy After 18% Correction?
PNB Housing Finance shares have fallen 18% from their 52-week high. Is it a good time to buy?
Pnb Housing FinanceStock MarketHousing FinanceInvestmentReal Estate NewsMay 29, 2024
The counter saw heavy trading volume, indicating a block deal took place. On BSE, around 1.53 crore shares were last seen changing hands, way more than the two-week average volume of 20,000 shares. Turnover on the counter came at Rs 1,113.84 crore, commanding a market capitalisation (m-cap) of Rs 19,483.19 crore.
On technical setup, support on the counter came at Rs 715 level. Resistance may be found at Rs 754. According to analysts, traders can consider buying the stock on dips of around Rs 700 level.
Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher, said, \As of now, the stock has turned weak. Support will be at Rs 715 level. A decisive breach above Rs 754 level is necessary for a further rise.\
Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, said, \One can consider buying it on dips of around Rs 700 level for an expected near-term target of Rs 780. Keep a strict stop loss placed at Rs 680.\
The company's stock has a price-to-equity (P/E) ratio of 13.47 against a price-to-book (P/B) value of 1.83. Earnings per share (EPS) stood at 55.58 with a return on equity of 13.58.
As of March 2024, promoters held a 28.13 per cent stake in the company.
PNB Housing Finance Ltd is a non-banking financial company (NBFC) that provides housing loans and other financial services. The company is promoted by Punjab National Bank (PNB), one of India's largest public sector banks.
Prabhudas Lilladher is a leading research-based brokerage firm in India. Religare Broking is a retail broking arm of Religare Enterprises Limited, a diversified financial services group.
Frequently Asked Questions
What is the current market price of PNB Housing Finance shares?
The current market price of PNB Housing Finance shares is around Rs 746 55
What is the 52-week high price of PNB Housing Finance shares?
The 52-week high price of PNB Housing Finance shares is Rs 913 95
Is PNB Housing Finance a good buy at current levels?
According to analysts traders can consider buying the stock on dips of around Rs 700 level for an expected near-term target of Rs 780
What is the market capitalisation of PNB Housing Finance?
The market capitalisation of PNB Housing Finance is around Rs 19 483 19 crore
Who are the promoters of PNB Housing Finance?
The promoters of PNB Housing Finance are Punjab National Bank (PNB) which holds a 28 13 per cent stake in the company
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