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) non-convertible debentures (NCDs) to Stable from Negative, while affirming the rating at 'IND AA'.

The revision in the Outlook factors in the strengthening of PNBHF's balance sheet on account of a sizeable deleveraging that has taken place over the past couple of years, an easing of challenges in the wholesale portfolio and the expansion of the granular mortgage segment. The rating also considers the resolutions already achieved and the progress in resolving of a sizeable proportion of its stressed assets. The rating factors in the company's pan-India franchise in the prime segment with adequate liquidity and diversified resource profile.

Shares of PNB Housing Finance Limited was last trading in BSE at Rs. 597.35 as compared to the previous close of Rs. 576.65. The total number of shares traded during the day was 28124 in over 1110 trades.

The stock hit an intraday high of Rs. 603.75 and intraday low of 572.80. The net turnover during the day was Rs. 16414022.00.

Source : Equity Bulls

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PNBHousingFinance INE572E01012 HousingFinance RatingOutlook RatingUpdate