INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Dewan Housing Finance Corporation (DHFL), which was a key trigger of the recent NBFC crisis, jumped 9 per cent today,
but not before hitting a fresh 52-week low earlier in the morning
The stock climbed to Rs 206.90 after tumbling 6 per cent to Rs 179 on Tuesday.
There are reports that the company's arm is looking to
sell its loan portfolio to banks in a bid to overcome the liquidity crunch
A unit of Wadhawan Global Capital and a group company linked to DHFL, Aadhar Housing Finance, was seeking to sell a majority of its
saleable loan portfolio to banks to tide over the liquidity crunch, ET had reported on Monday
The scrip, which plunged 10 per cent on Monday, extended its slide early today to a one-year low of Rs 179 on the BSE
It, however, recovered sharply and was up 6.52 per cent at Rs 202.50 around 10:20 am
The DHFL arm is in talks with six banks, including State Bank of India, Bank of Baroda and ICICI Bank, to sell loans worth of Rs 1,200
DHFL has been one of the most affected stocks in the NBFC crisis
In the last one month, the stock has lost two-thirds of its market value
The Infrastructure Leasing Financial Services (ILFS) crisis has created a negative perception about the health and functioning of NBFCs
and has raised concerns about liquidity in the market
This, in turn, has triggered a sell-off in NBFC stocks.
