DHFL shares hit lower circuit, fall 10 pc to hit 52-week low

Shares of DHFL hit lower circuit by slipping almost 10 per cent to its 52-week low on Wednesday after CDSL freezed shareholding of the mortgage lender's promoters due to delay in announcement of financial earnings.

The stock nosedived 9.86 per cent to Rs 26.05 on the BSE, while it tanked 9.84 per cent to Rs 26.10 on the NSE.

The shares hit lower circuit on both the stock exchanges.

Leading depository CDSL (Central Depository Services Ltd) freezed shareholding of the promoters of the debt-ridden mortgage lender due to delay in announcement of company's financial earnings, sources had said earlier.

In a filing to stock exchanges on Monday, DHFL said the meeting of its board of directors is scheduled to be held on October 17 to consider and approve the unaudited financial results for the first quarter ended June 30.

"Any action taken by the stock exchanges or depositories as a result of delay in submission of the above financial results by the company is purely procedural in nature and does not materially impact the company or the promoters," DHFL said.