Market Overview
In the latest market update, Motilal Oswal has issued a buy call on PNB Housing Finance Ltd., setting a target price of Rs 1000. As of the most recent data, the current market price of PNB Housing Finance Ltd. stands at Rs 768.5. Let’s delve into the details of this recommendation and the financial standing of PNB Housing Finance Ltd.
Company Profile
PNB Housing Finance Ltd., established in 1988, operates as a Mid Cap company within the NBFC sector, boasting a market capitalization of Rs 19969.48 Crore. The company’s key revenue segments encompass Interest, Fees & Commission Income, Income From Sale Of Share & Securities, and Income From Financial Services.
Financial Performance
For the quarter ending 31-12-2023, PNB Housing Finance Ltd. reported a Consolidated Total Income of Rs 1756.00 Crore. This figure reflects a slight decrease of -1.32% compared to the preceding quarter’s Total Income of Rs 1779.40 Crore and a decrease of -2.26% from the Total Income reported in the same quarter of the previous year, amounting to Rs 1796.52 Crore. The company recorded a net profit after tax of Rs 338.44 Crore in the latest quarter.
Ownership Structure
As of December 31, 2023, the promoter holding in PNB Housing Finance Ltd. stood at 28.13%. Meanwhile, Foreign Institutional Investors (FIIs) held 24.7% of the company’s shares, and Domestic Institutional Investors (DIIs) held 7.86%.
Investment Recommendation
Motilal Oswal’s buy call on PNB Housing Finance Ltd. comes with a target price of Rs 1000, indicating potential upside in the stock. Investors may consider this recommendation in light of the company’s financial performance and market dynamics.
Analysis and Outlook
PNB Housing Finance Ltd. continues to be a prominent player in the NBFC sector, offering a range of financial products and services. Despite facing some challenges in terms of revenue growth, the company has demonstrated resilience and maintained profitability. With the backing of Motilal Oswal’s buy recommendation, investors may anticipate positive momentum in the stock price.
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