Comments
Shares of PNB Housing Finance Ltd (PNBHFL) fell as much as 5.5 per cent to Rs 716.95, their worst intra-day percent loss since April 30.
Promoter Punjab National Bank Ltd's agreement with General Atlantic Group to sell part of PNBHFL for Rs 926 crore ($131.92 million) was terminated on Thursday.
Failure to receive regulatory approvals was cited as a reason for termination. Punjab National Bank is to continue as sole promoter of PNBH.
The Punjab National Bank stock fell 0.3 per cent.
PNBHFL is down 17.8 per cent this year as of last close, while its promoter's stock gained 3.7 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.