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DHFL shares fall for fifth straight day; tank 12 pc

Press Trust of India  |  New Delhi 

Shares of Dewan Housing Finance Corporation Ltd (DHFL) continued to face heavy selling pressure for the fifth straight session Friday, and fell further by nearly 12 per cent, amid a string of negative surrounding the firm.

DHFL shares tanked 11.70 per cent to Rs 119.95 -- its 52-week low -- on the BSE.

At the NSE, shares tumbled 11.69 per cent to a one year low of Rs 120.

In five trading sessions, the shares have fallen sharply by 42.66 per cent on the BSE.

Mortgage firm DHFL Thursday appointed a Chartered Accountant firm to examine allegations made by portal Cobrapost that the NBFC through shell companies has siphoned out Rs 31,000 crore.

The corporate affairs ministry has started inquiring into allegations of DHFL diverting Rs 31,000-crore loans and would seek more information from the housing finance firm, a senior official said.

Meanwhile, DHFL has termed the report as mischievous with a mala fide intention.

Housing finance company DHFL on January 25, reported a 36.7 per cent decline in net profit to Rs 313.60 crore for the third quarter ended December 2018.

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

First Published: Fri, February 01 2019. 13:31 IST