DHFL hits 35-month low; falls 23% in three trading sessions

The stock was down 5 per cent to Rs 162 on Wednesday, falling 23 per cent in past three days from level of Rs 209 on Friday, January 25, 2019.

Shares of Dewan Housing Finance Corporation (DHFL) hit a 35-month low of Rs 154 apiece, down 10 per cent in the early morning trade on Wednesday on heavy volumes after media outlet Cobrapost on Tuesday alleged the company had diverted loans worth Rs 31,000 crore — a charge the company termed “mischievous”. The stock of non-banking finance company hit its lowest level since February 29, 2016, on the BSE.

The stock was finally settled down 5 per cent lower at Rs 162 on Wednesday, falling 23 per cent in past three days from level of Rs 209 on Friday,