DHFL stocks continue to bleed, plunges 20%

Stocks of Dewan Housing Finance Corp (DHFL) plunged further on Thursday as its share prices fell 20 per cent after reports emerged that the Ministry of Corporate Affairs (MCA) may probe allegation of a Rs 31,000 crore scam.

Stock exchanges have also sought clarification from the company over reports of the likely probe.

Around 10.20 a.m., the share price of DHFL on the National Stock Exchange slumped nearly 20 per cent to touch an intra-day low of Rs 129.50.

At 1.36 p.m., it traded at Rs 138.25 per share, lower by Rs 23.20 or 14.37 per cent from the previous close.

On Tuesday, the investigative media organisation Cobrapost alleged that DHFL promoters routed around Rs 31,000 crore through dubious companies and parked it outside India to acquire assets.

The company on Tuesday rejected the allegations. DHFL said it had met all its obligations to its lenders by paying them back over Rs 17,000 crore in the last three months.

--IANS

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