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DHFL slips after joint MD, CEO Harshil Mehta resigns

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fell 1.40% to Rs 109 at 9:50 IST on BSE after the company said that its resigned on Wednesday with immediate effect.

Meanwhile, the was down 61.14 points, or 0.17% to 35,972.97.

On the BSE, 6.78 lakh shares were traded in the counter so far compared with average daily volumes of 50.19 lakh shares in the past two weeks. The stock had hit a high of Rs 109.40 and a low of Rs 104 so far during the day. The stock hit a 52-week high of Rs 690 on 3 September 2018. The stock hit a 52-week low of Rs 97 on 4 February 2019.

(DHFL) announced after market hours yesterday, 13 February 2019, that due to full-time engagement with other assignments within the company, Harshil Mehta, has expressed his desire to resign from the position of (designated as joint managing director & CEO) from the board of directors of the company with immediate effect. However, he would continue to be associated with the company and shall hold the designation of president-business with effect from 14 February 2019. The board of directors of the company have accepted his aforesaid resignation from the board with effect from 13 February 2019.

The nomination and remuneration committee of the board of directors of the company has recommended to the board the appointment of as an and Srinath Sridharan as a non-to receipt of requisite approvals from the regulatory authorities.

Net profit of declined 36.70% to Rs 313.60 crore on 12.40% rise in total income to Rs 3255.89 crore in Q3 December 2018 over Q3 December 2017.

DHFL provides including loans on homes, residential plots, construction, LAP or loan against property as also mortgage, non-residential and project loans.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 14 2019. 09:48 IST