PNB Housing Finance share price cracked 15% to hit the lower price band in the early morning trade on Friday, August 1, following the resignation of its MD and CEO Girish Kousgi before the completion of his term.
The company, in a press release earlier today, Kousgi has resigned and will step down from his role effective October 28, 2025. He had joined the organisation in October 2022 for four years.
The company said its strategic priorities, business focus, and growth trajectory remain firmly intact, based on the strong foundation built by Kousgi.
“The Board is confident that the Company’s high-performing team, which has been instrumental in delivering its strong performance, will continue to achieve the company’s goals of robust growth, asset quality and margins. As in the past, where seasoned professional candidates have been identified from the sector, the Board will immediately commence a search for a seasoned professional with proven expertise and industry experience,” the company said in a filing.
During Kousgi’s tenure, shares of PNB Housing Finance have surged over 200% as of the last closing price.
PNB Housing share price trend
Following the announcement of his resignation, PNB Housing Finance share price declined 15% to hit the lower price band of ₹838.30 apiece on the BSE. The stock had opened at the 10% lower price band, but soon the selling pressure strengthened.
There were only sell orders on both BSE and NSE with no buyers in sight.
