PNB Housing surges 44% in 2 days on large capital infusion by Carlyle Group

The announced large equity infusion should significantly improve the confidence of fixed income and equity markets and bring PNB Housing Finance back on the growth path, Morgan Stanley said

Shares of PNB Housing Finance were locked in the upper circuit of 20 per cent for the second straight day, hitting a fresh 52-week high of Rs 630.20 on the BSE in Tuesday's trade after the company on Monday said the private equity firm Carlyle Group and associates will acquire stake by investing in the Rs 4,000 crore preferential issue of equity and warrants of the company.

Pluto Investments, an affiliate of Carlyle Asia Partners, will invest up to Rs 3,185 crore through a preferential allotment of equity shares and convertible warrants at Rs 390 per share, for a 30.2