NEW DELHI: Shares of Dewan Housing Finance Corporation (DHFL) cracked 24 per cent to touch its 52-week low of Rs 103.35 on BSE in Friday's session.With this, shares of the company extended their losing run into the fifth straight session.The company has appointed an independent auditor to investigate allegations of financial mismanagement against the company.
Investigative media outlet Cobrapost had on Tuesday accused Dewan Housing Finance of giving Rs 31,000 crore of loans to dubious entities linked to the promoters that, the news portal alleged, were the ultimate beneficiaries of the funds.
Chairman Kapil Wadhawan countered the charges, claiming all the transactions were legitimate.
The company issued clarification on Cobrapost allegations Thursday, and in an investor call, suggested it is in advanced stage to sell non-core assets.
Shares of the company closed 17.96 per cent down at Rs 111.45 on BSE.