52-week high alert: Multibagger stock witnesses a breakout; jumps over 3 per cent!

 The stock has witnessed significant buying activity as it has given multibagger returns of more than 120 per cent in just 1 year.     

On Wednesday, the shares of PNB Housing Finance Limited surged 3.43 per cent. The stock hit a new 52-week high of Rs 609 per share on BSE. The scrip witnessed massive spurt in volume.  

PNB Housing Finance Limited provides retail consumers with housing and non-housing loans, including as individual home loans, loan against property and non-resident property loan, among others. It is promoted by Punjab National Bank.  

PNB Housing Finance Limited released its financial statements for the quarter and year ending March 31, 2023. In Q4FY23, the company’s total revenue increased by 15.06 per cent on YoY basis from Q4FY22 to Rs 1,627 crore.   

The profit before tax, recorded at Rs 346 crore, witnessed a surge of 50.15 per cent from last year’s same quarter. The net profit of PNB Housing Finance Ltd zoomed by 66.47 per cent from the corresponding quarter last year to Rs 283 crore.   

For the fiscal year 2023, the company’s total revenue surged by 5.6 per cent from last year’s same quarter to Rs 6,491 crore. The net profit of the company was recorded at Rs 1,056 crore, up by 28.46 per cent from the corresponding quarter last year. The EPS for FY23 was Rs 40.70, a 28.31per cent increase over FY22.  

The stock has witnessed significant buying activity as it has given multibagger returns of more than 120 per cent in just 1 year. Investors must keep a close eye on this Mid-Cap Housing Finance Company stock.