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DHFL, Infibeam Avenues, ITNL up over 10% after Friday's fall

DHFL surged 25% to Rs 439, while Infibeam Avenues and IL&FS Transportation Networks soared 20% each on the BSE in intra-day trade.

SI Reporter  |  Mumbai 

DHFL, Infibeam Avenues, ITNL up over 10% after Friday's fall

Shares of Limited (DHFL), and Transportation Networks were trading over 10% higher on back of heavy volumes on Monday, after crashing up to 42% on Friday on the BSE.

has surged 25% to Rs 439 on the BSE in intra-day trade after the company said it has received re-affirmation of credit ratings from CARE and ICRA. The stock rallied 78% from its 52-week low of Rs 246 touched on September 21 during intra-day trade.

The stock of Friday went into a tailspin, nosediving 42% to end at Rs 351.55 on the BSE. Intra-day, it tanked 60% to Rs 246.25 -- its 52-week low.

In a statement on Friday, Kapil Wadhawan, CMD of DHFL, had said the market movement has come as a big surprise to not only the company but also to the industry at large.

"We wish to categorically state that has not defaulted on any bonds or repayment nor has there been any single instance of delay on any of its repayment of any liability. We do not have any exposure with IL&FS," he said.

DHLF today said the company has neither defaulted on any bonds or repayment of its financial obligations nor has there been any instance of delay on any repayment of any liability. On September 21, 2018, DHFL fulfilled its commitment of repaying commercial papers worth Rs 5,750 million and as per schedule and terms, is repaying Rs 4,000 million on September 24, 2018.

The credit rating for DHFL's short and long-term borrowings including fixed deposits has been reaffirmed as CAREAAA {Outlook: Stable} and CAREAAA {FD}; Stable {Triple AAA, Outlook: Stable} and ICRAA1+, indicating a very strong degree of safety regarding timely payment of the Company's financial obligations, it added.

At 02:50 pm; DHFL was trading 13% higher at Rs 397 on the BSE, as compared to 1.27% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than three-fold with a combined 79.94 million equity shares changed hands on the NSE and BSE so far.

has soared 20% to Rs 218 on the BSE in intra-day trade, erasing most of its fall recorded on Friday. The stock of Friday too went into a tailspin, plunging 41% in intra-day trade, finally settled at Rs 181, a 23% lower against its previous day’s close. Currently, the stock was trading 19% higher at Rs 216 on the BSE.

Transportation Networks (ITNL) was too surged 20% to Rs 24.05 on the BSE in intra-day trade today. According to Business Standard report, Orix Corporation of Japan, which owns 23.54% in crisis-hit Infrastructure Leasing & Financial Services (IL&FS), is keen to acquire a majority stake in the infrastructure development and finance company. is the promoter of ITNL, holds 71.92% stake in the company.

First Published: Mon, September 24 2018. 14:59 IST