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PNB Housing Finance Plunges Over 7% On Block Deals

By Staff

Shares of PNB Housing Finance tumbled over 7 percent on the Bombay Stock Exchange after exchange data showed that nearly nine percent of the total equity of the company changed hands over the counter via multiple block deals.

PNB Housing Finance Plunges Over 7% On Block Deals

According to data available with the exchange, as much as 80.83 lakh shares have changed hand over the counter as compared to a two-week average of 0.10 lakh shares.

Weighed down by block deals, stocks of the company declined as much as 7.50 percent to touch an intra-day low of Rs 1270.95 apiece on the Bombay Stock Exchange.

In a similar trend, shares of the firm were trading 6.31 percent lower at Rs 1,287.60 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 35,295.87, up 87.23 points, or 0.25 percent at 12:00 hours.

The shares of PNB Housing Finance were trading at Rs 1,263.55, down by 8.05% in BSE at 3:56 pm (IST).

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