Shares of PNB Housing Finance Ltd plunged 18% after touching a day’s high of Rs 883.10 on 1st August, following the announcement that its MD & CEO, Girish Kousgi, has resigned and will step down from his role effective 28th October, 2025, to pursue career opportunities outside the organisation.

PNB Housing stated that Kousgi will collaborate with the Board and senior management to ensure a seamless transition. It added that the company’s strategy, business focus, and growth plans remain intact, backed by the strong foundation Kousgi helped build. The Board expressed confidence in its high-performing team to continue delivering growth, strong asset quality, and healthy margins.

As of June 2025, promoters held a 28.08% stake in the company.

Currently, the firm’s market capitalisation stands at around Rs 21,198 crore. The stock has given negative returns of almost 10.5% year-to-date.

At 1:43 PM, the shares of PNB Housing were trading 17.44% lower at Rs 814.25 on NSE.

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