DHFL shares had plunged almost 60% on Friday to a fresh 52-week low on the BSE over fears of a liquidity crisis.
DHFL share price: Shares of Dewan Housing Finance (DHFL) surged nearly 25% on the domestic bourses on Monday after the company said it will hold an analyst meet with regard to recent developments in the market. On Friday, DHFL stocks had plunged almost 60% to Rs 246.25, its 52-week low, on the BSE over fears of a liquidity crisis.
In early morning deals on Monday, shares of DHFL climbed 24.80% to an intra-day high of Rs 438.75 per share on the BSE. At the time of reporting, the shares were trading 13.87% higher at Rs 400.30. DHFL share price soared 25% to Rs 438.15 per share on the National Stock Exchange.
“… we wish to inform you that Dewan Housing Finance Corporation Limited (DHFL) is holding analyst meet on 24th Sep 2018 at 10:00 a.m. with regard to recent developments in the market,” the company said in a stock exchange filing on Monday.
Following Friday’s crash in the stock, the company chairman calmed the market by saying that DHFL is well placed in terms of liquidity and that there are no pledged shares and no loan has been availed against pledged shares. Amid the heavy sell-off in DHFL shares — along with other housing finance stocks — the Indian stock market too tumbled in mid-day trade, with the BSE Sensex suddenly plunging 1,127.58 points, or 3.03%, to hit a low of 35,993.64 points.
On Monday, the domestic sharemarket traded in the red during the morning deals tracking weak global cues, along with a lower opening of the rupee. The Sensex of the BSE was trading 187.65 points, or 0.51%, lower at 36,653.95 points (around 10.55 am), while the Nifty was down 67 points or 0.60% at 11,076.10.