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Shares of PNB Housing Finance rose sharply on Monday. Shares of PNB Housing Finance rose over 8 percent on Monday to Rs. 688.10 was reached. The rise in PNB Housing shares is due to the recovery of large non-performing loans (NPAs or bad loans). Shares of PNB Housing hit a 52-week high of Rs. is 699. At the same time, its stock hit a 52-week low of Rs 286.78.
784 crore loan recovery
PNB Housing Finance has informed that it has disbursed Rs. 784 crore corporate non-performing account (NPA) has been fully recovered. This account has been resolved by ARC Cell on August 19. According to data till June 30, 2023, this is about 1.3% of PNB Housing Finance’s total loan assets.
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Rs. 2270 crores of gross non-performing assets
As per data till June 30, 2023, PNB Housing Finance’s gross non-performing assets stood at Rs. 2270 crores, which is 3.76% of the company’s loan assets. PNB Housing Finance has Rs. 60,395 crore in loan assets. In the June 2023 quarter, PNB Housing Finance’s consolidated net profit rose 48% to Rs. 347 crores. In the same period a year ago, it was Rs. 235 crores. At the same time, the company’s profit for the March 2023 quarter was Rs 280 crore.
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Disclaimer: The information provided here is only about stock performance and does not constitute investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.