PNB Housing Finance falls 7% after huge block deals

The stock dipped 7% to Rs 1,271 on the BSE in intra-day trade after a more than 14 million shares of housing finance company changed hands through multiple block deals.

Shares of PNB Housing Finance have fallen 7% to Rs 1,271 per share on the BSE in intra-day trade after nearly nine per cent of total equity of the housing finance company changed hands through multiple block deals.

Till 10:46 am; a combined 14.52 million equity shares representing 8.69% of total equity of PNB Housing Finance have changed hands on the NSE and BSE, the exchanges data shows.

On the BSE around 8 million shares changed hands, while on the NSE 6.52 million shares were traded so far. Currently, the stock was trading 6.5% lower at Rs 1,284