DHFL shares bounce back; gain over 4 pc

DHFL shares bounce back; gain over 4 pc

A bird flies past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai (Reuters file photo)

Shares of DHFL rebounded on Tuesday after suffering a massive sell-off in the previous day and surged over 4 per cent after the company said it was working with stakeholders and creditors to ensure resolution of liquidity issues, without any haircut to the lenders.

The scrip gained 4.12 per cent to close at Rs 50.50 on the BSE. During the day, it jumped 6.80 per cent to Rs 51.80.

On the NSE, shares climbed 4.22 per cent to close at Rs 50.55.

In terms of traded volume, 56.17 lakh shares were traded on the BSE and over seven crore shares changed hand on the NSE during the day.

Dewan Housing Finance Corporation Limited (DHFL) stock had plummeted nearly 30 per cent on Monday after the company posted biggest-ever quarterly loss of Rs 2,224 crore for the fourth quarter ended March 31.

"We are closely working with the stakeholders/creditors to ensure that there is a comprehensive resolution, without any haircut to the lenders, as has been speculated by few sections of the media," DHFL said in a regulatory filing on Monday.

Further, DHFL said the sectorial stress is well known for months, the company withstood intense pressure and continues to remain strong and solvent.

DHFL also said it is in an advanced stage of submitting its resolution plan under the inter-creditor agreement as entered into by banks.