DHFL shares bounce back, rally 25% to Rs 438.75 after massive selling spree on fears of liquidity crisis last week

The scrip of Dewan Housing Finance Corporation on Friday went into a tailspin, nosediving 42.43 percent to end at Rs 351.55 on the BSE. Intra-day, it cracked 59.67 percent to Rs 246.25 -- its 52-week low.

Press Trust of India September 24, 2018 12:04:17 IST
DHFL shares bounce back, rally 25% to Rs 438.75 after massive selling spree on fears of liquidity crisis last week

New Delhi: Shares of DHFL bounced back sharply on Monday, surging 25 percent after a massive selling spree on fears of a liquidity crisis on Friday.

The stock, after a positive opening, further jumped 24.80 percent to Rs 438.75 on BSE.

DHFL shares bounce back rally 25 to Rs 43875 after massive selling spree on fears of liquidity crisis last week

Representational image. Reuters.

On NSE, shares of the company zoomed 24.98 percent to Rs 438.15.

The scrip of Dewan Housing Finance Corporation on Friday went into a tailspin, nosediving 42.43 percent to end at Rs 351.55 on the BSE. Intra-day, it cracked 59.67 percent to Rs 246.25 -- its 52-week low.

Following the slump in share price, Kapil Wadhawan, CMD of DHFL, had said the market movement had come as a big surprise to not only the company but also to the industry at large.

"We wish to categorically state that DHFL has not defaulted on any bonds or repayment nor has there been any single instance of delay on any of its repayment of any liability. We do not have any exposure with IL&FS," he said.

He said company's fundamentals are strong.

DHFL on Sunday said it proposes to reduce exposure to commercial paper (CP) as part of overall borrowing plan and increase hedging activity.

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