The stock of PNB Housing Finance saw a huge decline on Friday morning. The company’s stock on BSE broke 15.81 percent and lashed on a lower circuit. The company’s stock has suffered a major setback after the company’s managing director (MD) and Chief Executive Officer (CE) Girish Kausgi resigned before the completion of his tenure. The stock market opened with a 10% decline at the beginning of the day, but the selling pressure was so high that it soon fell on the lower circuit with a decline of about 16%.
Girish Kausagi resigns
According to the news of Livemint, Girish Kausgi will resign from his post from 28 October 2025. He joined the company for a four -year term in October 2022. The company said in a statement that our strategic priorities, business focus and development direction are completely maintained based on the strong foundation created by Girish Kausgi. The board also said that as already done earlier, we will soon start searching for a new professional with industry experience and expertise, so that the goals related to development, asset quality and margin can be carried forward. Let me tell you, during the tenure of Kausgi, the stock of PNB Housing saw a rise of more than 200%.
Q1 results strong but …
The company recently released the results of the first quarter (Q1 FY26) of FY 2025-26 on 21 July 2025. According to the report, the company’s net profit rose 23% to ₹ 534 crore, which was ₹ 433 crore in the same quarter last year. Although the results were good, the news of the change at the top level weakened the trust of the investors and saw heavy selling.
The news is being updated ….
Latest business news
