Pick of the Day: Anil Singhvi recommends sell on PNB Housing after CEO exit

Shares of PNB Housing Finance Ltd are in focus on Wednesday after Managing Director & CEO Girish Kousgi resigned from his post, triggering uncertainty around leadership continuity at the housing finance firm.

The resignation comes amid an already cautious market environment, further weighing on investor sentiment. Technical analysts have flagged the stock as a short-term Sell opportunity in the cash segment.

Market Guru Anil Singhvi recommended a Sell on PNB Housing citing potential downside due to the leadership change and near-term volatility.

CEO Exit Sparks Volatility

Girish Kousgi, who took over as MD & CEO in 2022, played a key role in the company’s transformation strategy. His abrupt exit raises questions on execution continuity and near-term guidance.

While the company has not yet announced a successor, investors and analysts will be closely tracking developments over the next few sessions.

Stock Action to Watch

Sell below: Rs 996

Targets: Rs 970, Rs 960, Rs 950

Reason: CEO exit-led uncertainty, technical weakness