DHFL falls after company defaults on interest payments

Reuters August 20 | Updated on August 20, 2019 Published on August 20, 2019

Shares of troubled mortgage lender Dewan Housing Finance Corp Ltd (DHFL) are down 7 per cent at ₹45.6.

The company said in a statement, on Monday, that it has defaulted with regard to interest payment of bonds and commercial papers worth ₹1,571 crore. DHFL has been unable to fulfil its obligations towards debt repayment in the recent past.

Read more: DHFL defaults again on bond repayments of over ₹1,500 cr

Around 8 million shares change hands in early trade, 9.2 times their 30-day average of 852,006. As of last close, stock down 80.3 per cent this year. At 10.35 am, the stocks of DHFL were trading 5.50 per cent at ₹46.35.

Published on August 20, 2019
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