Goldman Sachs offloads stake in PNB Housing Finance via bulk deal; Nippon India MF buys

Nippon India MF has increased its stake by 0.29% in PNB Housing Finance as Goldman Sachs Mauritius Fund offloaded the same. The shares were transacted at a price of Rs133. Punjab National Bank owns the registered PNB Housing Finance Company, which offers retail loans and corporate loans. Foreign portfolio investors own a 24.2% stake in the company, while domestic fund houses own only 1.85% of the company. PNB Housing Finance has not released its Q4 results yet; however, according to Trendlyne data, the company has an average target price of Rs 555, which is an upside of 30.11% from the current levels.

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