Next Article
PNB Housing shares hit 4-month low after CEO's resignation
PNB Housing Finance shares dropped nearly 18% on Friday, hitting a four-month low.
The sharp fall followed CEO Girish Kousgi's resignation, adding to a month-long slide that's wiped out over a quarter of the stock's value.
Leadership changes often bullet lead to knee- 1st jerk reactions in marketsland
Leadership shake-ups can spook investors, and that's exactly what happened here—trading volume shot up as people rushed to sell.
While Kousgi is leaving to explore new opportunities (effective October 28), the company says its plans and growth goals aren't changing.
Still, experts call the exit a short-term blow for confidence in the housing finance firm.