Business News›Wealth›Invest›PNB Housing stock price up 109.3% in last one year; 5 reasons analysts are bullish
PNB Housing stock price up 109.3% in last one year; 5 reasons analysts are bullish
Synopsis
Analysts are confident that low penetration of housing loans and increasing urbanisation and affordability will be good for PNB Housing.
The housing finance company (HFC) reported strong performance in the June 2023 quarter, with a multiquarter high return on assets (RoA) of 2.1%. The performance was supported by lower than estimated provisions, decline in credit costs, and an improvement in the net interest income. The net profit grew by 48% y-o-y and surpassed Reuters-Refinitiv estimates by 13.2%. The company has a pan-India network of 198 branches and over 14,000 active
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