Comments
Shares of Dewan Housing Finance Corp Ltd (DHFL) rise as much as 14.5 per cent to ₹52.45, their biggest daily percentage gain since October 16, 2018.
Lenders to DHFL have agreed on a three-level resolution plan that includes conversion of debt to equity and issuance of non-convertible debentures, according to media reports. Consortium of banks led by Union Bank of India is toying with the idea of taking a majority stake in the firm, reports added.
DHFL did not comment on either of the reports.
Separately, RBI Governor said at an industry event that ”we will not hesitate to take any steps for the stability of the non bank sector”.
Around 25 million shares change hands, 29.4 times their 30-day average of 852,006. The stock hits its highest since Jan 28. At 12.45 pm, the stocks of DHFL were trading 11.33 per cent higher at ₹51.10.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.