Stock Market Analysis: PNB Housing Finance Share Price Update and Expert Recommendations
The stock market today saw a significant drop in PNB Housing Finance share price, with heavy selling in the early morning session. The share price opened at ₹744 apiece on NSE and hit an intraday low of ₹724 per share, marking an 8 percent loss. However, the stock saw some recovery during the noon session and is currently trading around ₹739 per share.
Experts attribute this correction in PNB Housing Finance share price to news of Foreign Institutional Investors (FIIs) planning to sell their stake in the company through a block deal. Despite this, analysts believe that the stock remains a quality portfolio stock, especially after delivering positive Q4 results in 2024.
Avinash Gorakshkar, Head of Research at Profitmart Securities, stated that the news of foreign institutions offloading their stake has led to a bearish sentiment in the stock. However, he emphasized that this should be seen as a buying opportunity, as the company’s fundamentals remain strong.
Ganesh Dongre, Senior Manager at Anand Rathi, advised investors to hold onto their PNB Housing Finance shares, with a target price of ₹805 per share in the short term. He also recommended fresh investors to buy at the current level and maintain buy-on-dips strategy.
It is important to note that the views and recommendations mentioned in the article are those of individual analysts and experts, and investors are advised to consult certified experts before making any investment decisions.
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