Commenting on CARE's re-rating of DHFL, Mr. Kapil Wadhawan, Chairman and Managing Director said, "DHFL reiterates its steadfast commitment to all its financial responsibilities. The Company expresses concern over CARE's re-rating of DHFL's long term debt instruments and alludes to it as a non-merit based and entirely irrational decision. Over the last few months, DHFL has accelerated the process of realigning the ownership and management to bring in a broad based professional ownership with the aim. of enhancing stakeholders' confidence. The company has engaged with large potential entities to identify and on-board the right strategic partner and are in advanced stages of discussions to achieve the same over the next 90 days."
We would like to reiterate that DHFL continues to honor timely repayments of all its financial obligations as it takes several steps to re-establish normalcy into the business. We are taking all remedial measures to protect the interests of our stakeholders with transparent communication at every stage and we continue to service all our obligations since September 2018. The company continues to be well capitalized and have sufficient retail assets, which it can securitise further to preserve liquidity and service all its financial commitments.
Shares of DEWAN HOUSING FINANCE CORPORATION LTD. was last trading in BSE at Rs.148.8 as compared to the previous close of Rs. 134. The total number of shares traded during the day was 5375847 in over 30507 trades.
The stock hit an intraday high of Rs. 160.8 and intraday low of 147.4. The net turnover during the day was Rs. 821149190.