DHFL gains 14% on reports of Piramal, Baring PE eyeing majority stake

A media report said DHFL's discussions with Piramal Group and Baring PE were in advanced stages of negotiations

Shares of Dewan Housing Finance Corporation (DHFL) moved 14 per cent higher to Rs 155 in intra-day trade on the BSE on Thursday on back of heavy volumes after reports emerged that Piramal Group and Baring Private Equity (PE) were in advanced stage of negotiations to acquire majority stake in the housing finance company.

The trading volumes on the counter more than doubled with a combined 34.3 million shares already changing hands on the NSE and BSE till 10:56 am. On an average, sub 16 million shares were traded daily in past two weeks on both the exchanges.

Currently, discussions