DHFL plunges on default of debt repayment

The shares of Dewan Housing Finance Corporation Ltd (DHFL) plunged on Thursday's trading after news spread that the company had defaulted on repayment of debts which matured recently.

The shares were trading at Rs. 97.50 in BSE, down by Rs. 14.10 or 12.63%. The stock hit an intraday high of Rs. 100.60 and low of Rs. 94.90 which was its 52 week low as well.

The company has been on tight liquidity position for the last few months and had proposed to sell its stake in various businesses which are yet to fructify, thus leading to default to repayment of debt.

Source : Equity Bulls

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