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PNB to infuse Rs 600 cr in PNB Housing

Capital Market 

Punjab National Bank on Friday (31 July) announced that it has decided to infuse upto Rs 600 crore in PNB Housing Finance.

The bank said it will infuse the proposed amount in PNB Housing Finance (PNBHFL) through preferential issue/rights issue etc. subject to regulatory approval as and when PNBHFL decides to raise capital.

Shares of Punjab National Bank were trading 0.47% lower at Rs 31.6. Shares of PNB Housing Finance were trading 1.19% lower at Rs 207.30.

Earlier last week, PNB Housing Finance's consolidated net profit slipped 9.59% to Rs 257.18 crore on 16.17% decline in total revenue from operations to Rs 1,870.06 crore in Q1 June 2020 over Q1 June 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 31 2020. 13:45 IST