DHFL firms up on reports lenders agree to sign inter-creditor pact

DHFL was up 2.51% to Rs 75.45 at 15:13 on the BSE on reports that the company's lenders have agreed to sign an inter creditor agreement on 5 July and consider a resolution plan for the firm.

Meanwhile, the S&P BSE Sensex was up by 123.69 points, or 0.31% to 39,810.19.

On the BSE, 16.16 lakh shares were traded in the counter so far compared with average daily volumes of 40.46 lakh shares in the past two weeks. The stock had hit a high of Rs 76.80 and a low of Rs 73.45 so far during the day. It hit a 52-week high of Rs 690 on 3 September 2018 and a 52-week low of Rs 60 on 19 June 2019.

As per reports, bankers to DHFL have met on Monday, 1 July 2019, and agreed in principle to sign an inter-creditor agreement which is mandatory for any revival plan according to the new framework for restructuring of stressed loans which came into effect from 7 June 2019. The meeting was attended by seven banks including the State Bank of India, Bank of Baroda, Union Bank of India and Bank of India, reports added.

DHFL's net profit fell 36.7% to Rs 313.60 crore on a 12.4% rise in the total income to Rs 3255.89 crore in Q3 December 2018 over Q3 December 2017.

DHFL is a housing finance company.

Powered by Capital Market - Live News