PNB Housing Finance hits new low after CARE places rating on watch

In the last month, the stock has fallen 26 per cent, as compared to a 0.11 per cent rise in the benchmark S&P BSE Sensex

Shares of PNB Housing Finance (PNBHFL) hit a new low of Rs 683, down 4 per cent, in intra-day trade on Thursday after CARE Ratings placed the company’s ratings on "watch". The stock has fallen 12 per cent in the past two trading days on the BSE with concerns over raising money to maintain comfortable capital adequacy and gearing level.

The stock was trading at its lowest level since it listed on the bourses on November 7, 2016. In the last month, it has fallen 26 per cent, as compared to a 0.11 per cent rise in the benchmark