PNB Housing Finance share price witnessed a sharp rally of over 7% in intra-day trade on Friday, May 2, rising over 10% in the last three trading sessions following the announcement of the Q4 results. The stock price rally in PNB Housing today could also be attributed to a large block deal on the counter.
PNB Housing shares have risen in the last three out of four trading sessions.
PNB Housing block deal
According to media reports, Carlyle Group is looking to divest its 10.44% stake in PNB Housing Finance through a block trade worth $308 million ( ₹2,604 crore) today, likely exiting the company.
The floor price had been set at ₹960 per share, representing a 5% discount to PNB Housing’s closing price of ₹1,010.20 on April 30.
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