Stocks

DHFL shares continue to rise; jump 11%

PTI New Delhi | Updated on July 17, 2019 Published on July 17, 2019

DHFL stock continued to rally for second day in a row. File Photo   -  Reuters

Dewan Housing Finance Corporation Ltd (DHFL) stock continued to rally for second day in a row on Wednesday, rising 11 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 of DHFL jumped 11.07 per cent to close at ₹56.20 on the BSE. During the day, it zoomed 17.88 per cent to ₹59.65. At the NSE, shares gained sharply by 10.96 per cent to close at ₹56.15. On the traded volume front, 64.53 lakh shares were traded on the BSE and over eight crore shares on the NSE during the day.

Shares of DHFL rebounded Tuesday by rising over 4 per cent after suffering a massive sell-off in the previous day. DHFL stock had plummeted nearly 30 per cent on Monday after the company posted biggest ever quarterly loss of ₹ 2,224 crore for the fourth quarter ended March 31.

“We are closely working with 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 had said in a regulatory filing on Monday.

Published on July 17, 2019
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