PNB Housing shares in F&O ban list; stock sheds 4%, extending 5-day fall to 23%
On Monday, the PNB Housing stock fell 3.97 per cent to hit a low of Rs 775.90 apiece. With this, the HFC stock is down 23.44 per cent in five sessions.
- Aug 4, 2025,
- Updated Aug 4, 2025 10:39 AM IST
Shares of PNB Housing Finance Ltd were trading 4 per cent lower in Monday's trade, taking their five-day fall to 23 per cent. PNB Housing was the lone stock in NSE's F&O ban list for Monday.
The stock has been under pressure ever since the housing finance company's MD & CEO Girish Kousgi resigned. Kousgi would step down from his role effective October 28, to pursue career aspirations outside the organisation.
For now, Chief Credit & Collections Officer Jatul Anand has been designated as Executive Director at PNB Housing. He will be overall in-charge of `Prime and Emerging’ Business including sales, credit, product and collections).
On the other hand, Function Head Valli Sekar has been designated as Chief Business Officer for Affordable business’. She will be overall in-charge of Affordable business’.
On Monday, the PNB Housing stock fell 3.97 per cent to hit a low of Rs 775.90 apiece. With this, the HFC stock is down 23.44 per cent in five sessions. Under Kousgi, the HFC recently reported a 23 per cent year-on-year in the June quarter profit at Rs 534 crore.
"The company has gone through transformational journey and today it is future ready and well positioned to lead & stay as a significant player in the industry," he said adding that While the management team is very capable in taking over the mantle with professional ease, I am committed to a smooth transition and will always make myself available to assist in anyway possible during the period," Kousgi said in his resignation letter.
R. Chandrasekaran, Chairman of the Nomination and Remuneration Committee, Board of Directors of PNB Housing Finance, last week said, "The Board will initiate a rigorous, transparent and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance. We are confident of identifying a suitable professional soon, who will further accelerate our strategic direction and long-term value creation."
Shares of PNB Housing Finance Ltd were trading 4 per cent lower in Monday's trade, taking their five-day fall to 23 per cent. PNB Housing was the lone stock in NSE's F&O ban list for Monday.
The stock has been under pressure ever since the housing finance company's MD & CEO Girish Kousgi resigned. Kousgi would step down from his role effective October 28, to pursue career aspirations outside the organisation.
For now, Chief Credit & Collections Officer Jatul Anand has been designated as Executive Director at PNB Housing. He will be overall in-charge of `Prime and Emerging’ Business including sales, credit, product and collections).
On the other hand, Function Head Valli Sekar has been designated as Chief Business Officer for Affordable business’. She will be overall in-charge of Affordable business’.
On Monday, the PNB Housing stock fell 3.97 per cent to hit a low of Rs 775.90 apiece. With this, the HFC stock is down 23.44 per cent in five sessions. Under Kousgi, the HFC recently reported a 23 per cent year-on-year in the June quarter profit at Rs 534 crore.
"The company has gone through transformational journey and today it is future ready and well positioned to lead & stay as a significant player in the industry," he said adding that While the management team is very capable in taking over the mantle with professional ease, I am committed to a smooth transition and will always make myself available to assist in anyway possible during the period," Kousgi said in his resignation letter.
R. Chandrasekaran, Chairman of the Nomination and Remuneration Committee, Board of Directors of PNB Housing Finance, last week said, "The Board will initiate a rigorous, transparent and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance. We are confident of identifying a suitable professional soon, who will further accelerate our strategic direction and long-term value creation."