PNB Housing Finance names Ajai Kumar Shukla MD & CEO; stock jumps 5%

• PNB Housing Finance appointed Ajai Kumar Shukla as MD & CEO for a five-year term, effective December 18.
• Shukla brings over 30 years of experience in housing finance, previously serving as chief business officer at Tata Capital Housing Finance.
• He replaces former CEO Girish Kousgi, who resigned on October 28.
• Following the announcement, PNB Housing Finance's stock rose 5.35% on the National Stock Exchange.
• His appointment comes amidst increased competition in premium lending and a growing focus on affordable housing.

Why It Matters: PNB Housing Finance's new CEO appointment impacts its future and stock performance.