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This stock is up over 50% in 3 sessions, find out what's the buzz?
Locked up in upper circuit over 3 session PNB Housing Finance is up a whopping 300% from it&rsquo;s one year low.&nbsp;
So what&rsquo;s keeping traders buzzing on the mortgage lender?It&rsquo;s the entry of Carlyle and veteran banker Aaditya Puri as controlling investors that is scripting this turnaround for the housing finance company
Aditya Puri-led Salisbury Investments and Carlyle will invest up to Rs 3,185 crore in the housing finance company through a preferential issue priced at Rs 390 per share, they will make an open offer for a further 26 per cent stake in the housing finance company as well with a floor price of Rs 409/share. Aaditya Puri will also be joining the board of PNB Housing Finance.
The coming in of new investors will also lead to legacy bank PNB reducing it&rsquo;s stake in the business to 20% which opens up the possibility of rebranding and withdrawing from the PNB brand umbrealla for the housing finance firm.&nbsp;

This stock is up 60% in 3 sessions, find out what's the buzz? PNB Housing

This stock is up 60% in 3 sessions, find out what's the buzz?

Second Para&nbsp;lets do gfx&nbsp;
PNB&nbsp;Housing Buzzing&nbsp;
Carlyle,&nbsp;Aditya Puri's&nbsp;firm to invest Rs 3185 cr
Investment via pref&nbsp;issue, open offer to follow
Aaditya&nbsp;Puri&nbsp;likely to join board of the company&nbsp;

Locked up in upper circuit over 3 session PNB Housing Finance is up a whopping 300% from it&rsquo;s one year low.&nbsp;
So what&rsquo;s keeping traders buzzing on the mortgage lender?It&rsquo;s the entry of Carlyle and veteran banker Aaditya Puri as controlling investors that is scripting this turnaround for the housing finance company
Aditya Puri-led Salisbury Investments and Carlyle will invest up to Rs 3,185 crore in the housing finance company through a preferential issue priced at Rs 390 per share, they will make an open offer for a further 26 per cent stake in the housing finance company as well with a floor price of Rs 409/share. Aaditya Puri will also be joining the board of PNB Housing Finance.
The coming in of new investors will also lead to legacy bank PNB reducing it&rsquo;s stake in the business to 20% which opens up the possibility of rebranding and withdrawing from the PNB brand umbrealla for the housing finance firm.&nbsp;

Local news taking precedence on Dalal Street as Wall Street will remain shut on Monday on account of Memorial Day. Here are the stocks in news you need to keep an eye on -:

Housing Finance: From PNB&nbsp;Housing to LIC Housing, Can Fin and even HUDCO&nbsp;the real estate lenders to allied services are all buzzing in trade.&nbsp;
Divis Lab: Strong set of earnings has prompted brokerage bets, Goldman Sachs has raised the Buy Target to Rs 4530/share, while Jefferies&nbsp;remains bullish with a Rs 4732/share target.&nbsp;
Redington: After rising almost 70% this year, this stock continues to soar to fresh 52 week high. The company reported a 153% rise in Q4 profit on Friday.&nbsp;


Stock Spotlight: Movers and Shakers on Dalal Street

Local news taking precedence on Dalal Street as Wall Street will remain shut on Monday on account of Memorial Day. Here are the stocks in news you need to keep an eye on -:
<ul>
<li>PNB Housing Finance: Stock locked up in upper circuit as company approved fund raising which will be led by Carlyle.&nbsp;The Carlyle Group to make open offer for up to 7.08 cr equity shares at Rs 403.22/sh&nbsp;</li>
<li>Divis Lab: Strong set of earnings has prompted brokerage bets, Goldman Sachs has raised the Buy Target to Rs 4530/share, while Jefferies&nbsp;remains bullish with a Rs 4732/share target.&nbsp;</li>
<li>Redington: After rising almost 70% this year, this stock continues to soar to fresh 52 week high. The company reported a 153% rise in Q4 profit on Friday.&nbsp;</li>
<li>M&amp;M: Stock has seen some profit booking as it fell almost 6% after the company reported Q4 net profit at ₹163cr against an expectation of ₹1,015cr. Goldman Sachs has a 'buy' call with a target at ₹993 per share;&nbsp;CLSA&nbsp;has a 'buy' call with target price to ₹1,090</li>
<li>&nbsp;</li>
</ul>

pnb housing finance

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