PNB Housing Finance shares surged nearly 2% following significant activity in the stock market as institutional investors, including Morgan Stanley, Societe Generale, and Ghisallo Master Fund, acquired a substantial 6.82% stake in the company on November 13. The total value of the open market transactions was approximately ₹1,664 crore.
Key Details of the Bulk Deals:
- Morgan Stanley: Through its subsidiary Morgan Stanley Asia Singapore, the firm purchased over 1.42 crore shares, representing a 5.4% stake in PNB Housing Finance, in two transactions.
- Ghisallo Master Fund: Acquired 17.90 lakh shares.
- Societe Generale: Bought 17.09 lakh shares.
- Average Purchase Price: The shares were bought at an average price of ₹939.30 per share, totaling ₹1,664.55 crore in transaction value.
The strong buying interest from these prominent institutional investors has boosted market confidence in PNB Housing Finance, positioning the stock as one to watch in the financial sector.
TOPICS:
PNB Housing Finance