PNB Housing Finance Tumble For 6th Straight Day; Crisil Revises Outlook To Negative

PNB Housing Finance shares are on a losing streak for the sixth straight day on Monday (May 4, 2020). The stock was locked in 5% lower circuit at Rs. 188.

The rating agency CRISIL has reaffirmed the credit rating on the company's borrowings as well as NCDs to AA and for its fixed deposits it has given a rating of AA+.

Further the outlook has been revised lower to negative from the earlier stable and is symbolic of the delay in capital raising and there is a risk to high slippages due to halted economic activity and its impact over the real estate sector.

At 12:02 pm, the stock traded at Rs. 186.70, down 4.84% or Rs. 9.5 per share on the BSE.

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