NBFCs crash: Here's why DHFL tanked over 60% in trade today

Shares of non-bank finance companies (NBFCs) took a massive beating on Friday, with DHFL amd Indiabulls Housing Finance tumbling around 60 per cent and 30 per cent respectively in intraday trade. DHFL lost Rs 100 billion in the m-cap during the day. However, the stocks recovered partially after the management of both companies allayed investor concerns.

Analysts say the ongoing crisis at IL&FS created a panic and triggered the sell-off in these stocks, as it was feared that an ‘IL&FS-like’ situation was emerging across NBFCs. More specifically, rumour had it that DHFL and Indiabulls Housing Finance could find