PNB Housing: Fundamentals need to catch up with the stock now, say analysts

Shares of PNB Housing Finance (PNB HF) have soared a massive 58 per cent in three days on the bourses after the housing financier announced equity infusion worth Rs 4,000 crore, led by Carlyle Group, removing a key overhang on the company’s growth outlook.

The fact that the capital raising plan was nearly double than what the Street had expected (Rs 1,800 crore) has helped the counter jump a massive 279 per cent from its 52-week low level of Rs 183, hit on June 2, 2020.

However, what’s now left for the company, according to analysts, is to deliver on