DHFL gains 20% on heavy volumes, rebounds 25% from day's low on NSE

DHFL said the company is in the process of submitting a resolution plan to the lenders and the lenders are expected to give an in-principle approval to the plan by end of July 2019.

Shares of Dewan Housing Finance Corporation (DHFL) surged 20 per cent to Rs 63 in Tuesday's intra-day trade on the National Stock Exchange (NSE) on heavy volumes. The up move comes amid expectation of an in-principle approval from lenders to the company's resolution plan by month-end. The stock bounced back 25 per cent from its early morning low of Rs 50.50 on the NSE.

“The Company is in the process of submitting a resolution plan to the lenders and the lenders are expected to give an in-principle approval to the plan by end of July 2019,” DHFL said on