May 17, 2019 / 5:00 AM / 2 months ago

BUZZ-India's PNB Housing Finance slips after promoter's stake sale falls through

** Shares of PNB Housing Finance Ltd (PNBHFL) fall as much as 5.5% to 716.95 rupees, their worst intra-day pct loss since April 30

** Promoter Punjab National Bank Ltd’s agreement with General Atlantic Group to sell part of PNBHFL for 9.26 bln rupees ($131.92 mln) was terminated on Thursday

** Failure to receive regulatory approvals cited as reason for termination; Punjab National Bank to continue as sole promoter of PNBH

** Punjab National Bank stock falls 0.3%

** PNBHFL down 17.8% this year as of last close while its promoter’s stock gained 3.7% ($1 = 70.1920 Indian rupees) (Reporting By Arnab Paul in Bengaluru)

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