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    540173   INE572E01012


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Indian shares dragged by financial stocks; PNB Housing Finance slides

06/21/2021 | 01:29am EST

BENGALURU, June 21 (Reuters) - Losses in heavyweight financial stocks pulled Indian shares lower on Monday, while housing loans provider PNB Housing Finance dropped after a regulatory hold on a proposed capital raise.

By 0458 GMT, the blue-chip NSE Nifty 50 index was down 0.43% at 15,615.85, while the benchmark S&P BSE Sensex had lost 0.39% to 52,137.95.

While both the indices touched record highs earlier this month after COVID-19 cases declined and pandemic-led curbs were eased, a hawkish turn by the U.S. central bank led the Nifty and the Sensex to post their first weekly loss in five on Friday.

"Even the U.S. markets are trying to find their feet in terms of how do we interpret (the Fed's statements)," Mayuresh Joshi, head of equity research at William O'Neil & Co in India, said.

Domestic equities will also be analysing the fallout and, in the interim, will trade in a range-bound manner, he said.

St. Louis Fed President James Bullard said last week he was among the seven officials who expect rate hikes beginning next year, spooking investors already worried about the U.S. central bank's projection, during its policy meeting, of rate increases by end-2023.

Among individual stocks in Mumbai, PNB Housing Finance fell 5% to hit its lower circuit limit after India's markets regulator asked the company to put on hold a share allocation to a clutch of investors led by private equity firm Carlyle Group .

Investment banking company Centrum Capital gained over 16% after India's central bank approved the takeover of the troubled Punjab and Maharashtra Co-operative Bank by the company's unit.

State utility firm NTPC gained as much as 3% after posting higher March-quarter profit.

Heavyweight financial stocks were the biggest drags on the Nifty 50, with the Nifty Bank Index being on track for a fourth straight session of declines. (Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CENTRUM CAPITAL LIMITED 0.29% 34.35 End-of-day quote.103.86%
EURO / US DOLLAR (EUR/USD) 0.17% 1.12906 Delayed Quote.-7.45%
NTPC LTD 0.56% 126 Delayed Quote.26.17%
PNB HOUSING FINANCE LIMITED 4.99% 572.05 End-of-day quote.56.98%
THE CARLYLE GROUP INC. 1.52% 54.63 Delayed Quote.73.76%
11/29Indian shares flat in volatile trade; Reliance jumps
11/03PNB Housing Finance's Consolidated Net Profit Slumps 25% in Fiscal Q2
11/02PNB Housing Finance Gets Board Nod to Raise Up To $268 Million Via Debentures
11/02PNB Housing Finance Limited Reports Earnings Results for the Second Quarter and Six Mon..
10/22PNB Housing Finance Limited Announces Resignation of Rajneesh Karnatak as Non-Executive..
10/20PNB HOUSING FINANCE : Board to Consider Issuance of Bonds Worth Nearly $268 Million
10/18Indian stocks close at record levels as banks, metals jump
10/18Indian stocks close at record levels as banks, metals jump
10/18Metals, energy stocks drive Indian stocks higher as commodity prices jump
10/18CARLYLE : India's PNB Housing dives 5% after scrapping fund-raising deal with Carlyle
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Sales 2022 23 372 M 310 M 310 M
Net income 2022 9 522 M 126 M 126 M
Net Debt 2022 - - -
P/E ratio 2022 9,53x
Yield 2022 1,55%
Capitalization 96 435 M 1 278 M 1 279 M
Capi. / Sales 2022 4,13x
Capi. / Sales 2023 3,65x
Nbr of Employees 1 391
Free-Float 25,3%
Duration : Period :
PNB Housing Finance Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends PNB HOUSING FINANCE LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus -
Number of Analysts 0
Last Close Price 572,05 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Hardayal Prasad Chief Executive Officer, Director & MD
Kapish Chander Jain Chief Financial Officer
Ch. S. S. Mallikarjuna Rao Chairman
Nitant Desai Chief Centralized Operations & Technology Officer
Sanjay Jain Secretary & Head-Compliance