DHFL shares continue to rise after company says working with creditors, stakeholders to avoid haircut; jump 11%
Shares of DHFL rebounded Tuesday by rising over 4 percent after suffering a massive sell-off in the previous day.
-
During the day, the scrip zoomed 17.88% to Rs 59.65
-
At the NSE, shares gained sharply by 10.96% to close at Rs 56.15
-
Shares of DHFL rebounded on Tuesday by rising over 4% after suffering a massive sell-off in the previous day
New Delhi: DHFL stock continued to rally for the second day in a row on Wednesday, rising 11 percent, 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 11.07 percent to close at Rs 56.20 on the BSE. During the day, it zoomed 17.88 percent to Rs 59.65.
Representational image. Reuters.
At the NSE, shares gained sharply by 10.96 percent to close at Rs 56.15.
Related Articles
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 on Tuesday by rising over 4 percent after suffering a massive sell-off in the previous day.
Dewan Housing Finance Corporation Ltd (DHFL) stock had plummeted nearly 30 percent on Monday after the company posted the biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter ended 31 March.
"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.
also read
DHFL resolution plan: Crisis-hit firm says working with creditors, stakeholders to avoid haircuts
DHFL’s results and commentary on its financial health are the latest sign of growing stress in the country's finance sectors
DHFL crisis: Bankers likely to recast crisis-hit housing finance company's outstanding loans of over Rs 38,000 cr
On 25 June, DHFL said it failed to make Rs 225 crore payment of unsecured commercial paper payment. It will be paid over the next few days, the company said.
Bankers worry DSP Mutual Funds' legal action will delay rescue of DHFL; other creditors may be pushed to take legal action
In July, DHFL said it was "undergoing substantial financial stress" and may not survive as a going concern