The stock slipped to a low of Rs 126 - down 7% from the day's high of Rs 136. It finally ended down 1.6% at Rs 128. Around 104,047 shares were traded on the BSE today.
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(Updated at 1106hrs)
Dewan Housing Finance has gained following a JV with Redwood Group for raising funds for investing in logistics and warehousing.
The stock opened at Rs 132 and surged 4% to touch a high of Rs 136. It is currently trading at Rs 133 - up 2%. Around 29,085 shares have been traded at the counter on the BSE so far.
The company has entered into joint venture with foreign real estate fund, Redwood Group. The JV will raise approximately Rs 700-950 crore from international markets and Rs 150-200 crore from domestic markets. The JV will be a 50:50 partnership.
