HDFC Standard Life Acquires Stakes in PNB Housing Amid Market Movements

HDFC Standard Life Insurance Co purchased a 0.4% stake in PNB Housing Finance for Rs 90 crore through an open market transaction. Simultaneously, Asia Opportunities V reduced its holdings in PNB Housing. The stock saw a rise of 2.33% following these transactions.

HDFC Standard Life Insurance Co made a strategic move on Tuesday by acquiring shares in PNB Housing Finance valued at Rs 90 crore. The acquisition, conducted via an open market transaction, signifies a 0.4% stake in the company.

According to the BSE block deal data, HDFC Standard Life bought over 10 lakh shares at an average price of Rs 900 per share. This deal comes as foreign investor Asia Opportunities V (Mauritius) Ltd reduced its stake in the same company.

Consequently, Asia Opportunities V's stake in PNB Housing decreased from 1.34% to 0.94%. The share price of PNB Housing Finance experienced a 2.33% increase, closing at Rs 922.80.

(With inputs from agencies.)