DHFL shares bounce back; jump 6 pc after steep fall on Monday

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Updated: July 16, 2019 2:32:01 PM

DHFL stock on Tuesday rebounded after suffering a massive selloff in the previous day and surged 6 per cent after the company said it was working with stakeholders and creditors to ensure resolution of liquidity issues, without any haircut to the lenders.

DHFL, resolution plan, mutual funds, ICA, RBI, industry news, Dewan Housing Finance Corporation, Value Research DHFL shares bounce back on Tuesday after they saw steep fall on Monday on dismal Jan-Mar results

DHFL stock on Tuesday rebounded after suffering a massive selloff in the previous day and surged 6 per cent after the company said it was working with stakeholders and creditors to ensure resolution of liquidity issues, without any haircut to the lenders. The scrip jumped 5.97 per cent to Rs 51.40 on the BSE.  On the NSE, it rose by 5.97 per cent to Rs 51.40. Dewan Housing Finance Corporation Limited (DHFL) stock had plummeted nearly 30 per cent on Monday after the company posted the biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter ended March 31.

“We are closely working with the stakeholders/creditors to ensure that there is a comprehensive resolution, without any haircut to the lenders, as has been speculated by few sections of the media,” DHFL said in a regulatory filing on Monday.

Further, DHFL said the sectoral stress is well known for months, the company withstood intense pressure and continues to remain strong and solvent.  DHFL also said it is in an advanced stage of submitting its resolution plan under the inter-creditor agreement as entered into by banks.

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