Ind-Ra revises outlook on PNB Housing Finance Ltd's NCDs

India Ratings and Research (Ind-Ra) has revised the Outlook on PNB Housing Finance Limited's (PNBHF) nonconvertible debentures (NCDs) to Negative from Stable, while affirming the rating on 'IND AA'.

The Outlook revision reflects an added uncertainty around the timing and quantum of PNBHF's capital raising, which the agency believes could be critical in view of the stress in the loan portfolio, especially on the wholesale lending. This, if sustained, the agency believes, may require stronger stress absorbing buffers. The additional capital is also important to provide support for PNBHF's loan growth, without significantly raising leverage.

Shares of PNB Housing Finance Ltd was last trading in BSE at Rs.433 as compared to the previous close of Rs. 439.05. The total number of shares traded during the day was 39320 in over 1404 trades.

The stock hit an intraday high of Rs. 446.6 and intraday low of 429.5. The net turnover during the day was Rs. 17292040.

Source : Equity Bulls

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