PNB Housing Finance shares tank 15%; here's why investors are dumping stock

PNB Housing Finance shares slumped 15 per cent, touching the lower band at ₹838.3 per share on BSE; here's what's rattling investors

PNB Housing Finance shares slumped15 per cent, in the morning deals, on Friday, touching the lower band at ₹838.3 per share on BSE. At 9:28 AM, PNB Housing shares were trading 10 per cent lower at ₹887.6 per share. In comparison, BSE Sensex was down 0.2 per cent at 81,020.55. 

Why did PNB Housing Finance shares slip in trade?

PNB Housing Finance shares were under pressure after MD & CEO Girish Kousgi resigned from his role effective October 28, 2025.   CATCH STOCK MARKET UPDATES TODAY LIVE 

The filing states that the reason for his stepping down is to pursue career aspirations outside the organisation. Kousgi is said to work closely with the board and senior management to ensure a smooth transition during this period. 

 

To elect a new MD & CEO, the board will initiate a rigorous, transparent and merit-based selection process. The board will immediately commence a search for a seasoned professional with proven expertise and industry experience, according to the filing. 

"We are confident of identifying a suitable professional soon, who will further accelerate our strategic direction and long-term value creation," said R. Chandrasekaran, chairman of the nomination and remuneration committee, board of directors, PNB Housing Finance. 

 

Post the resignation, the management said that it remains fully committed to executing its long-term strategy, underpinned by robust governance practices, prudent risk management, customer-centric approach, and sustainable growth initiatives. The board is confident that the company’s high-performing team, which has been instrumental in delivering its strong performance, will continue to achieve the company’s goals of robust growth, asset quality and margins.  ALSO READ | HUL gains 11% in two days of posting Q1 results; most brokerages hike TP

About PNB Housing Finance Limited

PNB Housing Finance Limited is a deposit-taking housing finance company registered with the National Housing Bank (NHB). The company’s asset base comprises primarily retail home loans. The retail business focuses on organised mass housing segment financing for the acquisition or construction of houses. In addition, it also provides loans against property and loans for purchase & construction of non-residential premises.