PNB Housing Finance signs MoU with IIT Delhi to develop PPE kits

PNB Housing Finance Limited (PNBHFL) announced that it has signed a memorandum of understanding (MoU) with Indian Institute of Technology (IIT) Delhi, in an initiative to support critical research and development (R&D) of a unique prototype material to be used in manufacturing sustainable personal protective equipment (PPE) surgical gowns and masks, which would then be supplied to notable government hospitals.

The main objective of the current research is designing and developing critical PPE face masks and surgical gowns, using Jacquard knitting technology. The knit construction for the mask will be optimised for a secure 3D‐fit around the face with a layer of melt‐blown, non-woven material along with ensuring efficient filtration/barrier protection with good breathability.

Elaborating on the initiative, Neeraj Vyas, Managing Director and CEO of PNB Housing Finance stated that as part of the company’s societal responsibilities, PNBHFL has joined hands with IIT Delhi in ensuring that we contribute to the national effort in flattening COVID‐19 curve.

PNBHFL is a housing finance company which provides housing loans to individuals and corporate bodies for construction, purchase and repair as well as upgradation of houses.

On Wednesday, the stock closed at Rs 173.05, down by 2.70 per cent or Rs 4.80 per share. The 52-week high is recorded at Rs 885 and the 52-week low is Rs 146 on BSE.