DHFL share price soars 5%; stock hits upper circuit as Piramal resolution plan inches ahead

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February 26, 2021 12:39 PM

Shares of Dewan Housing Finance Corporation Ltd (DHFL) on Friday hit upper circuit on the bourses after the company said it has filed application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance.

DHFLThe stocks of DHFL hit its upper trading limit with a gain of 4.76 per cent at Rs 19.80 apiece on the bourses.

Shares of Dewan Housing Finance Corporation Ltd (DHFL) on Friday hit upper circuit on the bourses after the company said it has filed application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance. The stocks of DHFL hit its upper trading limit with a gain of 4.76 per cent at Rs 19.80 apiece on the bourses.

On Thursday, the company said, it has received no objection from the Reserve Bank and has filed application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance. Earlier this week, DHFL had announced Piramal group’s resolution plan getting approval from the RBI.

Pursuant to the receipt of no objection from Reserve Bank as per Insolvency and Bankruptcy Rules, 2019, the administrator of DHFL has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) with the adjudicating authority NCLT, Mumbai Bench, DHFL said in a regulatory filing on Thursday.

The resolution plan has been approved by the Committee of Creditors (CoC).

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