DHFL and Prudential Financial, Inc. complete ownership transfer of life insurance joint venture in India

Dewan Housing Finance Corporation Ltd has announced with reference to the Joint Venture with Prudential Financial Inc. by way of acquisition of 50% Equity stake in DLF Pramerica Life Insurance Company Ltd. (DPLI), that post receipt of regulatory approvals from National Housing Bank (NHB) and Insurance Regulatory and Development Authority (IRDA), the Company on December 18, 2013 has acquired 50% equity stake from DLF Ltd., in DLF Pramerica Life Insurance Company Ltd. (DPLI).

Shares of Dewan Housing Finance Corporation Ltd was last trading BSE at Rs.175, down by Rs.3.10 or 1.74%. The stock hit an intraday high of Rs.182.70 and intraday low of Rs.172.

The total traded quantity was 0.67 lakh shares as compared to 2 week average of 1.08 lakh shares.

Source : Equity Bulls

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