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<keyword id="6426359" type="General" weightage="80" keywordseo="pnb-housing-finance" source="Orion">PNB Housing Finance</keyword> on Thursday reported an 11.7 per cent rise in net profit at Rs 262.63 crore for the September quarter of 2022-23 on a modest rise in core income. The non-banking finance company had logged a net profit of Rs 235.21 crore in the year-ago period. Total income increased to Rs 1,683.43 crore from Rs 1,586.41 crore in the same period of 2021-22, <keyword id="47268" type="General" weightage="100" keywordseo="pnb" source="Orion">PNB</keyword> Housing Finance said in a regulatory filing. The core interest income of the Delhi-based housing finance company rose 6.5 per cent in the quarter to Rs 1,597.54 crore as against Rs 1,499.88 crore in the year-ago period. Total expenses moved up nearly 4 per cent to Rs 1,343 crore from Rs 1,295.21 crore. Promoted by the country's second-largest state-owned lender <keyword id="62034" type="General" weightage="50" keywordseo="punjab-national-bank" source="Orion">Punjab National Bank</keyword> (PNB), the company is engaged in the business of providing loans for the purchase, construction, repairs and renovations of housing and commercial properties. On the asset front, gross non-performing assets (NPAs or bad loans) stood at 6.05 per cent of gross advances as of September 30, 2022. Net NPAs were at 3.59 per cent. PNB Housing Finance stock closed at Rs 451.10, up 4.59 per cent, on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-gains-67-paise-to-82-14-against-us-dollar/articleshow/95113459.cms">Rupee gains 67 paise to 82.14 against US dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-trade-higher-amid-mixed-cues-from-global-markets/articleshow/95113241.cms">Indian markets trade higher amid mixed cues from global markets</a>

PNB Housing Finance Q2 profit rises 12 pc at Rs 263 cr 

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword>’s share price has skyrocketed over the last 10 trading days. </li><li>Every ₹10,000 invested in the stock on May 25 is now worth ₹22,000 as on June 7, 2021. </li><li>However, the potential upside could be limited from the current share price. </li></ul>Shares of PNB Housing Finance have hit the upper circuit six days in a row, more than doubling investor wealth. Had an investor put in ₹10,000 in the stock on May 25, 2021, it would be worth nearly ₹22,000 today. The incessant rally in PNB Housing Finance’s shares was triggered by the news of former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> chief executive officer (CEO) <keyword id="6406769" type="LOCATION" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword> and US-based private equity firm The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> investing in the non-banking lender. <div type="Article" hostid="261" msid="83105948" title="Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer" mstype="2" mssubtype="0"></div> <div type="image" title="PNB Housing Finance 25_05_21 to 07_06_21." msid="83306222" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> Over the last 10 trading sessions, the non-banking lender’s share price has surged by over 118%. The company’s shares have been locked in the upper circuit for the last six consecutive days. But the upside could be limited, according to Kranthi Bathini, director of equity strategy at WealthMills Securities. “There has been a sharp run-up in the share price of PNB Housing Finance over the last few trading sessions. This could mean the potential upside now is limited,” Bathini told Business Insider. “The recent investment news has turned it into a momentum stock. The rally in share prices of such stocks is driven by news, and not necessarily the technicals and fundamentals,” he further added, linking the sharp rally in PNB Housing Finance’s share price to the ₹4,000 crore fundraising news. According to the company’s exchange filing, private equity giant The Carlyle Group will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company noted in its exchange filing that the primary objective of the fundraise is to augment capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/former-hdfc-bank-ceo-aditya-puri-and-carlyle-will-be-among-the-new-owners-of-pnb-housing-finance-triggering-an-open-offer/articleshow/83105948.cms">Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer</a> <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword> has announced a fundraise of ₹4,000 crore.</li><li>The fundraising will be led by The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> and former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> CEO <keyword id="6406769" type="COMPANY" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword>.</li><li>Shares of PNB Housing Finance hit the 20% upper circuit, reacting to the news.</li></ul>The board of non-banking lender PNB Housing Finance has approved a fundraising of ₹4,000 crore. Former HDFC Bank chief executive officer (CEO) Aditya Puri and US-based private equity firm The Carlyle Group have emerged as the leading investors. The government-owned Punjab National Bank (PNB), which owns a little over 32% stake right now, will continue to be a promoter and a key stakeholder of the company. PNB Housing Finance said each of QIH, Pluto and Salisbury Investments will be classified as part of the “promoter group” of the company, following the completion of the transactions under Pluto SSA and Salisbury SSA, respectively. Reacting to the news, shares of PNB Housing Finance went through the roof, hitting an upper circuit of 20% at around 10:10 am. <div type="image" title="PNB Housing Finance 15_04_21 to 31_05_21." msid="83106098" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> According to the company’s exchange filing, private equity giant The Carlyle Group, will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company notes in its exchange filing that the primary objective of the fundraise is to augment the capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. The equity issue is priced at ₹390 per share, which is a discount of nearly 11% over the previous closing price. This has triggered an open offer for acquisition of over 70 million shares, representing 26% of the company’s existing equity shares. The open offer price is quoted at ₹403.22 per share, which is at a discount of nearly 8% over the previous closing price. <cmsannotation type="cmsannotation" annotationid="Fundraising has been long overdue" comment="subhead" text="Fundraising has been long overdue">Fundraising has been long overdue</cmsannotation> The fundraising announcement is long overdue for the lender. Back in November 2020, the company had announced a fundraise of ₹1,800 crore via a preferential issue of shares. However, its plans were derailed as its parent Punjab National Bank was not permitted by the Reserve Bank of India to pour in the capital into its lending subsidiary. Later, in an analyst call in April 2021, PNB Housing Finance’s CEO and MD, Hardayal Prasad, said that the company is evaluating its options. “As you are aware that we were waiting for the capital raise with participation of PNB and ₹600 crore was earmarked since then. But after, the permission was not given. So, we have initiated the process of evaluating all options and modes for the fundraise,” said Prasad. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer

<keyword id="640142" type="General" weightage="100" keywordseo="housing-finance-company" source="Orion">Housing Finance Company</keyword> HDFC has increased its Retail Prime Lending Rate (<keyword id="413108" type="General" weightage="50" keywordseo="rplr" source="Orion">RPLR</keyword>) on housing loans by 5 basis points. The revision would come into effect from Wednesday itself. The upward revision in rates will essentially lead to an increase in EMIs for borrowers. The hike in rates came close on the heels of central bank <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>'s recent hike in repo rate by 40 basis points, besides giving indications it would raise rates further in the upcoming monetary policy review meets. On Wednesday, <keyword id="62034" type="General" weightage="50" keywordseo="punjab-national-bank" source="Orion">Punjab National Bank</keyword> (<keyword id="47268" type="General" weightage="50" keywordseo="pnb" source="Orion">PNB</keyword>) too raised its marginal cost of funds-based lending rate by 15 basis points with immediate effect. Recently, banks such as <keyword id="13222" type="General" weightage="50" keywordseo="sbi" source="Orion">SBI</keyword> and <keyword id="6358007" type="General" weightage="50" keywordseo="bank-of-baroda" source="Orion">Bank of Baroda</keyword> too have hiked their lending rates across various tenures, as per reports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/mobile/news/moto-g82-5g-expected-to-launch-in-india-on-june-9-expected-price-specs-and-everything-you-need-to-know/articleshow/91919825.cms">Moto G82 5G expected to launch in India on June 9 – expected price, specs and everything you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/cryptocurrency/news/an-indian-home-can-live-for-a-year-with-the-energy-it-needs-to-mine-a-single-bitcoin/articleshow/91916128.cms">An Indian home can live for a year with the energy it needs to mine a single Bitcoin</a>

HDFC raises lending rates on housing loans by 5 basis points

PNB Housing Finance, Reliance, oil companies and other stocks to watch out for on June 21

<ul><li>Indian stock market indices opened in red on Thursday tracking sell-off in global markets.</li><li>The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex tumbled over 300 points in early trade on Thursday tracking the sell-off in global markets after the US Fed's gloomy economic outlook spooked investors. The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points. ICICI Bank was the top loser in the Sensex pack, shedding around 2%, followed by IndusInd Bank, HDFC, ITC, Asian Paints and Titan. On the other hand, NTPC, PowerGrid, Sun Pharma and Infosys were among the gainers. These are the top stocks that are buzzing the D-street today. Ruchi Soya dives 2% post Q1 earnings <div type="image" title="Ruchi SOya August 20" msid="77648242" hostid="261"></div> Patanjali Group firm Ruchi Soya shares declined 2% during the early trading hours on Thursday. The company reported around 13% decline in its net profit to ₹12.25 crore for the first quarter ended June 30. It also announced the resignation of Acharya Balkrishna as managing director of the company. Ram Bharat, Baba Ramdev’s younger brother, will replace Balkrishna. Muthoot Finance decline 5% <div type="image" title="Muthoot Fianance August 20" msid="77648250" hostid="261"></div> Shares of one of the largest NBFC gold loan lenders declined 5% during the trade hours on August 20. Although the company posted a 59% rise in standalone net profit in the June quarter, the inventors were cautious about sustainable growth. <a href="https://www.livemint.com/market/mark-to-market/gold-makes-muthoot-finance-shine-in-q1-but-investors-want-growth-sustainability-11597841856611.html">According to reports</a>, the recent surge in gold loans is because people are struggling to pay the dues as the pandemic impacted pockets. Therefore, the growth rates could peter out in the coming quarters. IRCTC lost over 1% during the morning trade <div type="image" title="IRCTC shares" msid="77648259" hostid="261"></div> Shares of partly state-owned hospitality company IRCTC shares declined nearly 1% after news surfaced that the government is looking to reduce its shareholding via an offer of sale. <a href="https://www.timesnownews.com/business-economy/companies/article/indian-railways-irctc-next-on-modi-government-s-disinvestment-agenda-report/639539">According to reports</a>, The department of investment and public asset management (Dipam) has invited bids from merchant bankers and brokers. It aims to divest part of the government’s shareholding of 87.4% in the IRCTC, which was listed on the bourses last year. Tata Power gained over 4% <div type="image" title="Tata power" msid="77648296" hostid="261"></div> Tata Power share soared 4% after the company said after launching its renewable energy InvIT this fiscal year, it would also explore merger and acquisition opportunities to strengthen its position in this space. HAL shares declined over 3% <div type="image" title="HAL" msid="77648311" hostid="261"></div> HAL lost nearly 3% during the morning trade hours after <a href="https://www.moneycontrol.com/news/business/economy/government-may-sell-5-stake-in-hal-via-offer-for-sale-5728591.html">news reports</a> surfaced that Centre is planning to sell 5% stake in state-owned defence player Hindustan Aeronautics (HAL) via an offer for sale. As of now, the central government owns a 90% stake in HAL, and it is expected to rake in up to ₹2,000 crore. DLF gained over 2% <div type="image" title="DLF" msid="77648341" hostid="261"></div> Realty major DLF gained over 2% during the morning trade after the US-based property player Hines secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram. “The second joint venture between Hines and DLF has secured a construction loan of ₹2,600 crore from HDFC Ltd,” Hines said. <keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword> up nearly 3% <div type="image" title="PNB Housing" msid="77648370" hostid="261"></div> PNB Housing Finance shares gained nearly 3% after its board on Wednesday approved raising up to ₹1,800 crore equity capital through a preferential or rights issue. Yes Bank and CG power gains nearly 3% and 5%, respectively <div type="image" title="Yes" msid="77648396" hostid="261"></div> Yes Bank shares were up 3% after the company exited <keyword id="9788653" type="COMPANY" weightage="20" keywordseo="cg-power-industrial-solutions-ltd">CG Power &amp; Industrial Solutions Ltd</keyword> (CG Power) by selling its entire stake-holding in the company. Whereas on the other hand CG Power also gained 5%. Yes Bank has sold 6,34,00,000 equity shares having a nominal value of ₹2 each, constituting 10.12% of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing. SEE ALSO:<a href="https://www.businessinsider.in/business/startups/news/swiggy-ran-a-massive-thank-you-campaign-for-its-delivery-heroes-two-months-later-those-heroes-are-protesting-against-reduced-cuts-and-slashed-incentives/articleshow/77647502.cms" data-type="tilCustomLink"> Swiggy ran a massive ‘thank you’ campaign for its delivery heroes – two months later, those heroes are protesting against reduced pay and slashed incentives</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-sbi-dlf-pnb-housing-yes-bank-ruchi-soya-titan-company-and-more/articleshow/77646162.cms" data-type="tilCustomLink">Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more</a>

Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more

<ul><li> At 7:45 am, the SGX Nifty was down 1% at 8.56 points.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid cautious cues from the global markets, Indian stock-market indices are likely to open in red on Thursday. At 7:45 am, the SGX Nifty was down 1% at 8.56 points pointing towards a lower start for Nifty50. US stocks finished lower on Wednesday after the minutes from the Federal Reserve's July meeting raised concerns about economic outlook. The Dow Jones Industrial Average ended 0.31% lower at 27,692.88 points. These are the stocks to watch out for during the trading session today: State Bank of India State Bank of India (SBI) on Wednesday said it raised around ₹8,931 crore in a Tier-II bond sale, the biggest offering by India’s largest bank this year. The bonds with a maturity of 15 years were raised at a coupon rate of 6.8%. The shares of SBI closed 1% higher yesterday. DLF Ltd Realty major DLF and US-based property player Hines have secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram. “The second joint venture between Hines and DLF has secured a construction loan of ₹2,600 crore from HDFC Ltd,” Hines said. The shares of DLF closed nearly a percent higher yesterday. PNB Housing Finance PNB Housing Finance board on Wednesday approved raising up to ₹1,800 crore equity capital through a preferential or rights issue. The shares of PNB Housing closed 6% higher yesterday. Yes Bank Yes bank has exited CG Power &amp; Industrial Solutions Ltd (CG Power) by selling its entire stake-holding in the company, the bank said on Wednesday. Yes bank has sold 6,34,00,000 equity shares having a nominal value of ₹2 each, constituting 10.12% of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing. The shares of Yes Bank closed 5% higher yesterday. Ruchi Soya Patanjali Group firm Ruchi Soya on Wednesday reported around 13% decline in its net profit to ₹12.25 crore for the first quarter ended June 30. It also announced the resignation of Acharya Balkrishna as managing director of the company. The shares of Ruchi Soya closed 5% higher yesterday. Titan Company The company in a release said that it is fully hedged with gold on lease and gold bought from stock markets. It said that the ineffective hedge loss due to mismatch in sales quantity would be reversed subsequently with a corresponding reversal of stock gain accrued in the first quarter ended June. The shares of Titan closed 0.3% higher yesterday. L&amp;T Finance L&amp;T Finance Holdings will raise up to ₹200 crore by issuing bonds, offering 8 per cent interest to investors. The shares of L&amp;T Finance closed almost flat yesterday. Indian Overseas Bank, J Kumar Infraprojects, Accelya Solutions, HealthCare Global Enterprises These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-just-became-a-2-trillion-company-hereaposs-how-it-came-to-rule-the-world-from-its-early-struggles-to-beat-microsoft-to-the-launch-of-the-iphone-/slidelist/77640152.cms" data-type="tilCustomLink">Apple just became a $2 trillion company. Here's how it came to rule the world, from its early struggles to beat Microsoft to the launch of the iPhone.</a> <a href="https://www.businessinsider.in/careers/news/cabinet-approves-creation-of-national-recruitment-agency-for-government-and-psu-bank-jobs/articleshow/77632641.cms" data-type="tilCustomLink">Cabinet approves creation of ‘National Recruitment Agency’ — Government and PSU bank job seekers will now have to clear a single central test</a>

Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more

<ul><li>Between 2017-end and March 2020, the SMID indices were down more than 40% relative to the equity benchmark Sensex.</li><li>Morgan Stanley now believes that SMID stocks are now all set to rally on the back of a growth recovery and attractive valuations.</li><li>Aditya Birla Capital, CG Consumer, JustDial and Prestige Estates are some of the stocks that Morgan Stanley is overweight on. </li></ul>Morgan Stanley’s Ridham Desai is bullish on small and mid-cap stocks. In a recent note, he said that after 30 months of struggle, Indian mid and small-cap stocks are poised for outperformance on the back of growth recovery and attractive valuations. The Morgan Stanley report dated August 18 said the small and mid-cap (SMID) stocks went into a prolonged phase of underperformance after peaking in early January 2018. Between the end of 2017 and March 2020, the SMID indices were down more than 40% relative to the equity benchmark Sensex due to various reasons such as growth deceleration and relative valuations. “The COVID-19 related lockdown did not help matters but has marked a floor on the cohort’s relative performance as a forward-looking stock market is possibly anticipating better growth. With monetary aggregates normalizing and significant policy action underway with a corporate tax cut last September, we think growth is set to turn,” the report said. Here’s the list of stocks that Morgan Stanley is betting on: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YTD Gain % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-38% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amara Raja Batteries </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Electronics </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CG Consumer </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exide Industries </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat Gas </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat State Petronet </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indraprastha Gas </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Steel &amp; Power </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39.40% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant FoodWorks </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Just Dial </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-31% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra Financial Services </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-31% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MphasiS </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multi Commodity Exchange of India </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudayalaya </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PNB Housing Finance </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prestige Estates Projects </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram City Union Finance </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram Transport Finance Co </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sobha Developers </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Power Co </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr></tbody></table>Source: Morgan Stanley report dated August 18 Morgan Stanley notes that smaller firms are likely to benefit more due to their operating and financial leverage. SMID valuations are looking attractive relative to GDP and money supply, setting the stage for outperformance versus large-cap stocks in the coming months. They are overweight on 22 stocks in the small and mid-cap universe, with a market cap of around US$3.5 billion. Morgan Stanley has also sounded a word of caution on three factors that pose major risks to the outperformance of broader markets — COVID-19 pandemic, lack of structural reforms, and the risk in the financial system. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ruchi-soya-shares-muthoot-finance-shares-irctc-shares-hal-shares-tata-power-shares-yes-bank-shares-top-stock-movers-on-dalal-street/articleshow/77647940.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more</a> <a href="https://www.businessinsider.in/business/auto/news/kia-sonet-suv-pre-booking-starts-today-checkout-price-images-specifications-and-other-details/articleshow/77649221.cms" data-type="tilCustomLink">Kia Sonet pre-booking starts today— Here’s all you need to know about price, features and other details</a>

These are small and mid-cap stocks that Morgan Stanley’s Ridham Desai is betting on

<ul><li>At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to have a slow start on Tuesday, led by mixed cues from the global markets. At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50. However, on Monday, the US stocks ended low as investors booked profits following a sharp rally in recent weeks that led to the benchmark’s best November ever. The Dow Jones Industrial Average closed 271 points lower, and the S&amp;P 500 was down 0.46%. These are the stocks to watch out for during the trading session today: Dr Reddy’s Laboratories Dr Reddy’s Laboratories inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. The acquired brands represent two types of products — mometasone mono-product and combination of mometasone with azelastine, which is indicated for the treatment of seasonal and perennial allergic rhinitis, it added. The company, however, did not disclose financial details. Indiabulls Housing Finance Indiabulls Housing Finance further sold a portion of its stake in OakNorth Holdings to raise approximately ₹93 crore. Hindustan Construction Company Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has received two separate contracts worth ₹236 crore from the Northeast Frontier Railway for the construction of single line BG tunnels Lot 14A and Lot 15A on a 51.38-km long Bairabi-Sairang New BG Rail line in Manipur. M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks will be in focus during the trade today. The companies are slated to report their November sales data today, and according to <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms">Nirmal Bang estimates, </a>a strong show is expected led by strong festive demand. TVS Motor TVS Motor is set to acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of ₹15 crore. SRF SRF’s resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at the cost of $19 million. Premier Explosives Premier Explosives has bagged a contract worth ₹14 crore from Ministry of Defence for the supply of 26 mm Chaffs. Punjab National Bank Punjab National Bank’s base rate cut by 15 basis points to 8.65% from 8.8%, effective from December 1. Future Consumer Bennett, Coleman &amp; Company Limited (BCCL) reduced its stake in Future Consumer to 4.25% from 6.33% via open market transaction. Fortis Healthcare Aberdeen Standard Investments Ltd increased its stake in Fortis Healthcare to 5.02% from 4.96% via open market purchases. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms" data-type="tilCustomLink"> November auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/india/news/centre-invites-agitating-farmer-unions-for-talks-on-december-1-two-days-ahead-of-a-scheduled-meeting/articleshow/79502391.cms" data-type="tilCustomLink">Centre invites agitating farmer unions for talks on December 1, two days ahead of a scheduled meeting</a>

Top stocks to watch — Dr Reddy’s, Indiabulls Housing, M&M, Tata Motors, Bajaj Auto, Maruti, Hero Moto, PNB, and others

<ul><li>The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. </li><li>The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18.</li><li>The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The overall market has been trading in the green today. Both Sensex and Nifty were up nearly 1% at 2pm, though they had pared their morning gains a tad. One index that has been a performer today is the Midcap Index, which has been holding up The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. Here’s a quick look at the gainers of S&amp;P BSE Midcap Index PNB Housing <div type="image" title="PNB Housing August 18" msid="77609821" hostid="261"></div> The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18 ahead of its board meeting tomorrow to consider fundraising. “A meeting of the Board of Directors of PNB Housing Finance Limited (the “Company”) is scheduled to be held on Wednesday, August 19, 2020, to consider fundraising by the company, and the mode thereof, by the issue of Equity Shares and/or other securities through any permissible modes, as may be considered appropriate, subject to such approvals as may be required,” the company said in a filing to stock exchanges. Berger Paints <div type="image" title="Berger Paints August 18 new" msid="77609965" hostid="261"></div> The shares of Berger Paints were trading nearly 4% higher during the trade on August 18 after reports surfaced that the Berger’s CEO is expecting double-digit growth in August. “Just before COVID-19 (pandemic), things had slowed down in the third and fourth quarter. Compared to that we are better off and probably some demand has shifted from April and has not got destroyed”, says <a href="https://economictimes.indiatimes.com/markets/stocks/news/expecting-a-double-digit-growth-in-august-berger-paints/videoshow/77594252.cms">Abhijit Roy, MD &amp; CEO, Berger Paints told ET Now</a>. CG Power and Industrial Solutions <div type="image" title="CG Power" msid="77610037" hostid="261"></div> The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18 minutes after opening as the Singularity Holdings acquired 35 lakh shares of the company at ₹13.95 per share and the Blue Diamond Properties bought 4,12,93,778 shares of ₹13.97 per share. There were pending orders of 4,822,841 shares to buy, with no sellers available. GPT Infraprojects Ltd <div type="image" title="GPT infra" msid="77610111" hostid="261"></div> The shares of GPT Infraprojects Limited gained over 10% after the company announced that it had bagged an order valued at ₹196.30 crores. Railway Vikas Nigam, Kolkata has awarded the contract, which involves the construction of Metro Railway Viaduct and Ramp at Joka Depot end in connection with Joka Esplanade Metro Railway Project in Kolkata. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tata-motors-sbi-card-bandhan-bank-ril-britannia-sbi-cards-share-price-are-top-movers-on-dalal-street-today/articleshow/77605529.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a>

Here's a look at top midcap gainers today— PNB Housing, Berger Paints, CG Power, GPT Infraprojects

PNB Housing Finance on Wednesday said it has signed a pact with IIT-Delhi for developing sustainable and reusable <keyword id="2493103" type="PERSON" weightage="20" keywordseo="personal-protective-equipment">personal protective equipment</keyword> (PPE) kits for healthcare workers.Under the agreement, the <keyword id="261982" type="COMPANY" weightage="20" keywordseo="PNB-Housing-Finance-Ltd">PNB Housing Finance Ltd</keyword> (PNBHFL) will support research and development of a unique prototype material to be used in manufacturing sustainable (washable and reusable) PPE surgical gowns and masks. <div type="Article" hostid="261" msid="75571397" title="Sanofi, one of the largest drug makers, will test experimental coronavirus vaccine on humans starting September" mstype="2" mssubtype="0"></div> The PPE kits developed will then be supplied to government hospitals, PNBHFL said in a release. In managing patients afflicted with the highly-contagious COVID-19, healthcare workers rely heavily on PPE kits in protecting themselves from being infected or infecting others. But a shortage of PPE kits is exposing doctors, nurses and other frontline workers to the risk of infection while caring for COVID-19 patients. <div type="Article" hostid="261" msid="75570106" title="Long queues as Telangana re-opens liquor shops after 43 days shutdown" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="75569270" title="Aarogya Setu denies privacy breach, contradicts ethical hacker’s claims" mstype="2" mssubtype="0"></div>

PNB Housing Finance signs pact with IIT Delhi to develop sustainable PPE kits

New Delhi, Mar 3 () PNB Housing Finance on Tuesday said its board has approved raising up to Rs 1,700 crore through qualified institutions placement (QIP) route. The decision was taken at the company's board meeting held on March 3. The board "has approved to raise equity capital aggregating up to Rs 1,700 crore through a QIP," it said in a regulatory filing. "In addition, the board also considered it advisable, subsequent to the successful closure of the QIP, to offer Quality Investment Holdings and/or its affiliates/nominees a preferential allotment of equity shares and/or permissible securities (including convertible securities/warrants) of the company," it added. The preferential allotment to Quality Investment Holdings --an investment vehicle of the Carlyle Group -- is subject to conditions, including the terms of the preferential issue being no less favourable than those offered to QIP investors. "It is clarified that QIH is not obligated to subscribe in the preferential issue at this stage. Should it choose to participate, QIH can subscribe to at least such number of agreed securities in the preferential issue as required to maintain its pre-QIP shareholding in the company," PNB Housing Finance said. PNB Housing promoter Punjab National Bank (PNB) and Carlyle Group are to sell at least 51 per cent stake in the housing finance company, in which they are the joint investors. As of December 31, 2019, PNB held 32.65 per cent stake in the company while QIH had shareholding of 32.22 per cent. The company's asset base comprises retail loans and corporate loans. The retail business focusses on organized mass housing segment financing for acquisition or construction of houses. It also provides loan against properties and loans for purchase and construction of non-residential premises. Shares PNB Housing Finance closed at Rs 341.10 apiece on the BSE, up 0.84 per cent from the previous close. KPM KPM ANUANU

You Searched For "pnb housing finance" and got 12 results

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Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more

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These are small and mid-cap stocks that Morgan Stanley’s Ridham Desai is betting on

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Top stocks to watch — Dr Reddy’s, Indiabulls Housing, M&M, Tata Motors, Bajaj Auto, Maruti, Hero Moto, PNB, and others

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Here's a look at top midcap gainers today— PNB Housing, Berger Paints, CG Power, GPT Infraprojects

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PNB Housing Finance signs pact with IIT Delhi to develop sustainable PPE kits

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PNB Housing Finance board approves Rs 1,700 cr fundraising via QIP

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