DHFL shrugs off CEO Harshil Mehta's resignation; jumps 18% from day's low

The stock moved higher by 11 per cent to Rs 123, bouncing back 18 per cent from intra-day low of Rs 104 on the BSE.

Shares of Dewan Housing Finance Corporation Limited (DHFL) have moved higher by 11 per cent to Rs 123 apiece, bouncing back 18 per cent from their intra-day low and erasing their entire losses on the BSE.

The stock opened 6 per cent lower at Rs 105 after DHFL’s Joint Managing Director (MD) and Chief Executive Officer (CEO) Harshil Mehta resigned on Wednesday with immediate effect.

However, Harhil Mehta would continue to be associated with the company and shall hold the designation of Executive President- Retail Business with effect from 14th February 2019, DHFL said in a regulatory filing.