INSUBCONTINENT EXCLUSIVE:
DHFL shares plunged nearly 60 per cent in trade before ending at Rs 351.55, down Rs 259.05 on BSE.As housing finance companies led a panic
company had exposure to debt-hit Infrastructure Leasing Financial Services (ILFS) group
DHFL was the worst hit among the housing finance companies as it erased $1.12 billion from its market capitalisation
DHFL shares plunged nearly 60 per cent in trade before ending at Rs 351.55, down Rs 259.05 or 42.43 per cent on the Bombay Stock Exchange
On the National Stock Exchange (NSE), DHFL shares closed at Rs 337.00, with a loss of Rs 273.55 or 44.80 per cent.Krish Subramanyam, co-head
equity advisor at Altamount Capital, was quoted as saying in the Reuters report that rumours about one group "spilled over to other NBFCs
Housing Finance also cracked up to 8 per cent.DHFL's management later refused that it had any exposure to ILFS group."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 ILFS," said Kapil Wadhawan, chief managing director, DHFL."Our fundamentals are strong and we hold a strong
Sensex crashed 1,127.58 points before closing at 36,841.60, down 279.62 points or 0.75 per cent
The Nifty50 settled at 11,143.10, with a loss of 91.25 points or 0.81 per cent, before sinking 367.9 points.
