Shares of PNB Housing Finance Limited rose as much as 8.8 per cent to Rs 761.95 , their biggest percentage gain since April 1, 2019.
The housing finance provider, on Thursday, posted a 47 per cent jump in profit for the March-quarter, due to stronger net interest margin and lower provision.
Jefferies' analysts expressed concern around the potential stress in the developer book and a possible capital raise may weigh on valuation multiples.
Meanwhile, the shares were down 24.2 per cent this year, while peers Indiabulls Housing Finance is lower by 20.17per cent, while Dewan Housing Finance Corporation has fallen 53.5 per cent as of last close