DHFL extends fall as government launches probe; tanks 43% in one week

The stock was down 12% to Rs 120 on Friday, its lowest level since May 13, 2014.

Shares of Dewan Housing Finance Corporation (DHFL) were trading under pressure, falling 12 per cent to Rs 120 apiece on BSE, as the government launched a probe against the housing finance company. The stock was trading at its lowest level since May 13, 2014.

Thus far in the week, the market price of DHFL tanked 43 per cent from the level of Rs 209 on January 25, 2019, after the media outlet Cobrapost on Tuesday alleged that the company had diverted loans worth Rs 31,000 crore — a charge the company termed “mischievous”. in comparison, the S&P BSE Sensex was