PNB Housing Finance extends rally on FII buying
The stock rallied 11% to Rs 987 in intra-day trade, extending its Monday's 15% rally on the NSE.
 "PNB Housing Finance extends rally on FII buying")
PNB Housing Finance has rallied 11% to Rs 987 on the National Stock Exchange (NSE) in intra-day trade after the foreign institutional investors (FIIs) bought equity shares worth of Rs 500 crore of the company through open market transaction.
PNB Housing Finance, promoted by Punjab National Bank (PNB), had made a strong debut on Monday, ended at Rs 891, a 15% higher against its initial public offer (IPO) price of Rs 775 per share.
On Monday, November 7, GA Global Investments (3.1 million) and General Atlantic Singapore Fund FII PTE Ltd (2.55 million) had collectively bought 5.65 million shares amounting of Rs 502 crore via open market, the NSE bulk deal data shows. LINK
The name of sellers was not immediately ascertained.
At 11:15 am, the stock was up 7% at Rs 955 on NSE, as compared to 0.06% rise in the Nifty50 index. A combined 9.02 million shares changed hands on the counter on NSE and BSE.
PNB Housing Finance, promoted by Punjab National Bank (PNB), had made a strong debut on Monday, ended at Rs 891, a 15% higher against its initial public offer (IPO) price of Rs 775 per share.
On Monday, November 7, GA Global Investments (3.1 million) and General Atlantic Singapore Fund FII PTE Ltd (2.55 million) had collectively bought 5.65 million shares amounting of Rs 502 crore via open market, the NSE bulk deal data shows. LINK
The name of sellers was not immediately ascertained.
At 11:15 am, the stock was up 7% at Rs 955 on NSE, as compared to 0.06% rise in the Nifty50 index. A combined 9.02 million shares changed hands on the counter on NSE and BSE.