New Delhi: Shares of DHFL on Monday bounced back, snapping five days of decline, and ended over 4 per cent higher following the management commentary.
Dewan Housing Finance Corporation stock surged 4.17 per cent to close at Rs 116.10 on BSE. Intra-day, it slumped 12.96 per cent to Rs 97 — its 52-week low. On NSE, shares gained 3.86 per cent to close at Rs 115.50. The company’s shares have fallen 46.72 per cent in the past five days.
Troubled mortgage lender DHFL Monday said recent events beginning with the post-IL&FS liquidity crisis, has led it to look for strategic partners which will trim promoter holdings in the company.
The company’s scrip, which had faced trouble during the liquidity crisis of last September and was repeatedly hammered following the Cobrapost allegations last week, saw some buying following the management commentary earlier in the day.
“We want a strong strategic partner who can not only add value but also alleviate any concerns the market might have on the business and also bring in fresh equity and capital,” Chairman and Managing Director Kapil Wadhawan told analysts over a conference call. Speaking to analysts for the second time in a week, Wadhawan said the company has done a detailed review of the allegations and denied any wrongdoing. (PTI)
