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DHFL stock plunges 12 pc on delay in financial results

Press Trust of India  |  New Delhi 

Shares of Dewan Housing Finance Ltd (DHFL) Friday plunged nearly 12 per cent after the cash-strapped firm postponed announcement of its financial results by two weeks.

The scrip fell 11.75 per cent to close at Rs 72.10 on the BSE. During the day, it touched a low of 13.78 per cent to Rs 70.70

At the NSE, shares of the company declined 10.85 per cent to close at Rs 72.70.

In terms of traded volume, 37.31 lakh shares were traded on the BSE and over 4.56 crore shares changed hands on the NSE during the day.

DHFL Friday said it is delaying announcement of quarterly results due to certain unforeseen issues, including non-availability of a few directors for participation in meetings of the audit committee and the board for approving the results.

The non-banking finance company has been facing liquidity crisis and has recently defaulted on its repayment obligations.

The company has resorted to various modes of fund mop-up including selling stake in subsidiary firms to meet its debt obligations.

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

First Published: Fri, June 28 2019. 18:45 IST
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