Shares Tumble: PNB Housing Finance Faces Investor Discontent

PNB Housing Finance experienced a significant drop in its share prices by nearly 8% following its December quarter results, which did not meet investor expectations. Despite a rise in net profit and interest income, shares hit the lower circuit limit on both NSE and BSE.

Shares of PNB Housing Finance took a nosedive on Thursday, shedding nearly 8% as investor sentiment remained gloomy post the December quarter results.

The company, whose net profit rose by nearly 8% to Rs 520.35 crore, could not avoid the stock's descent to Rs 858 on the NSE and Rs 859 on the BSE.

Despite robust loan growth reflected in rising interest income, the market response was lackluster, even as the benchmark indices closed on a high note.

(With inputs from agencies.)