A public shareholder of PNB Housing Finance Ltd. sold a 0.62% stake in the company worth Rs 177 crore to a Singapore branch of Goldman Sachs and two Singaporean administrative institutions through a bulk deal using open-market transactions on Thursday.
Asia Opportunities V (Mauritius) Ltd., a foreign portfolio investor, offloaded 16.2 lakh shares at Rs 1.097.30 apiece, according to block deal data from the NSE. The firm held a 5.19% stake in the company as of June 2024, according to BSE data.
Goldman Sachs (Singapore) Pte.-Odi bought 0.92 lakh shares or 0.04%; the Government of Singapore purchased 13.6 lakh shares or 0.5%; and the Monetary Authority of Singapore mopped up 2.13 lakh shares or 0.08%, at Rs 1.097.30 apiece.
PNB Housing Finance had its target price raised by Morgan Stanley by 48.29%, reflecting an optimistic outlook on the company's long-term prospects in terms of loan growth, asset quality, and return on capital. The New York-based investment bank has also identified PNB Housing Finance as a top choice among mid- and small-cap stocks, according to NDTV Profit.
Shares of PNB Housing Finance closed 0.25% lower at Rs 1,109.00 apiece on the NSE, compared to a 1.89% advance in the benchmark Nifty.
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