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    Buy PNB Housing Finance, target price Rs 507: IIFL

    Synopsis

    The stock has an ascending triangle breakout.

    BuyAgencies
    The stock has an ascending triangle breakout.
    IIFL has buy call on PNB Housing Finance with a target price of Rs 507.The current market price of PNB Housing Finance is Rs 498.65. IIFL recommended to keep stop loss at Rs 455.

    PNB Housing Finance, incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 8304.32 Crore) operating in NBFC sector.

    PNB Housing Finance key Products/Revenue Segments include Interest, Fees & Commission Income, Income From Sale Of Share & Securities for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1683.43 Crore, up 19.22 % from last quarter Total Income of Rs 1411.99 Crore and up 6.12 % from last year same quarter Total Income of Rs 1586.41 Crore. Company has reported net profit after tax of Rs 262.63 Crore in latest quarter.

    The company’s top management includes Mr.Atul Kumar Goel, Mr.Sunil Kaul, Mr.Neeraj Vyas, Mr.Kapil Modi, Mr.R Chandrasekaran, Mr.Nilesh S Vikamsey, Dr.T M Bhasin, Ms.Gita Nayyar, Mr.Sudarshan Sen. Company has B R Maheshwari & Co. as its auditors. As on 30-09-2022, the company has a total of 17 Crore shares outstanding.

    Investment Rationale
    The stock has an ascending triangle breakout.

    Promoter/FII Holdings
    Promoters held 32.57 per cent stake in the company as of 30-Sep-2022, while FIIs owned 23.96 per cent, DIIs 3.28 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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