Neurohypophysis (pars nervosa) also known as posterior pituitary, stores and releases two hormones called oxytocin and vasopressin, which are actually synthesized by the hypothalamus and are transported axonally to the neurohypophysis.
Oxytocin acts on the smooth muscles of our body and stimulates their contraction. In females, it stimulates a vigorous contraction of the uterus at the time of childbirth, and milk ejection from the mammary gland.
Vasopressin acts mainly at the kidney and stimulates resorption of water and electrolytes by the distal tubules and thereby reduces the loss of water through urine (diuresis). Hence, it is also called anti-diuretic hormone (ADH).