NBFCs in a free fall; DHFL bleeds 60%, loses Rs 100 billion in m-cap

Shares of financial services companies took a massive beating on Friday with DHFL bleeding as much as 60 per cent in the intraday trade. The company lost around Rs 100 billion in the m-cap during the day. 

According to the analysts, the IL&FS crisis was the main reason behind the selloff. That apart, a rise in bond yields too weighed on the sentiment. 

“The sell-off is nothing surprising and was in the offing. Some of these stocks were correcting in small proportions owing to the IL&FS group situation. However, the major sell-off came today,” said A K Prabhakar, head