SuperTech default risk adds to HFCs' woes amid liquidity tightening worries

Besides SuperTech, a large Mumbai-based realty developer is also reported to be on the path to default

Stocks of housing finance companies (HFCs) again came under a bear grip on Wednesday due to a potential default by a corporate account. Major HFCs -- IndiaBulls Housing (IBHF) and Dewan Housing Finance Corporation (DHFL) -- saw their share prices sink 12-14 per cent in Wednesday's session. 

While worries over liquidity tightening have hurt investor sentiment recently, the latest news over possible credit risk from Delhi-based real estate company, SuperTech, has added to the woes. SuperTech was recently downgraded to "D" (default) by Brickwork Ratings due to liquidity problems.  

Though exposure to SuperTech by all HFCs is still unknown,