PNB Housing Finance share price cracked 15% to hit the lower price band in the early morning trade on Friday, August 1, following the resignation of its MD and CEO Girish Kousgi before the completion of his term.
The company, in a press release issued earlier today, Kousgi has resigned and will step down from his role effective October 28, 2025. He had joined the organisation in October 2022 for four years.
The company said its strategic priorities, business focus, and growth trajectory remain firmly intact, based on the strong foundation built by Kousgi.
“The Board is confident that the Company’s high-performing team, which has been instrumental in delivering its strong performance, will continue to achieve the company’s goals of robust growth, asset quality and margins. As in the past, where seasoned professional candidates have been identified from the sector, the Board will immediately commence a search for a seasoned professional with proven expertise and industry experience,” the company said in a filing.
During Kousgi’s tenure, shares of PNB Housing Finance have surged over 200% as of the last closing price.
PNB Housing share price trend
Following the announcement of his resignation, PNB Housing Finance share price declined 15% to hit the lower price band of ₹838.30 apiece on the BSE. The stock had opened at the 10% lower price band, but soon the selling pressure strengthened.
There were only sell orders on both BSE and NSE with no buyers in sight.
Anshul Jain, Head of Research at Lakshmishree Investment, said, PNB Housing has broken below the box support at 990 with a sharp gap-down move, accompanied by a massive surge in volumes—over 1,176% of the 50-day average—indicating panic-driven exits.
“This kind of high-volume breakdown reflects strong bearish sentiment and a likely shift in short-term trend. With no immediate support nearby, the stock looks vulnerable to further downside. The next major support lies at 751, which now becomes the likely target in the near term if the selling pressure continues unabated,” Jain added.
PNB Housing Finance Q1 Results
The company recently posted a decent set of numbers, on July 21, for the quarter ended June 30, 2025.
PNB Housing Finance saw a 23% increase in its net profit to ₹534 crore for the first quarter of fiscal 2025-26 (FY26). The housing finance firm had earned a net profit of ₹433 crore in the same quarter of the previous year.
The company’s total income for the quarter grew to ₹2,082 crore from ₹1,832 crore in the corresponding quarter of the previous fiscal year, PNB Housing Finance said in a regulatory filing.
Interest income for the quarter was higher at ₹1,980 crore compared to ₹1,739 crore a year ago. The net interest income also saw a 17% rise to ₹760 crore at the end of Q1 2025 against ₹651 crore in the year-ago quarter.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
