Dewan Housing Finance Corporation slumped 3.18% to Rs 54.75 at 11:34 IST on the BSE after company defaulted on payment of non convertible debentures.
The announcement was made after market hours yesterday, 24 July 2019.
Meanwhile, the S&P BSE Sensex was up by 143.91 points or 0.38% to 37,991.21.
On the BSE, 24.10 lakh shares were traded in the counter so far compared with average daily volumes of 43.55 lakh shares in the past two weeks. The stock had hit a high of Rs 56.55 and a low of Rs 53.85 so far during the day. It hit a 52-week high of Rs 690 on 3 September 2018 and a 52-week low of Rs 44.45 on 16 July 2019.
The company announced that it has defaulted on secured Non Convertible Debenture (NCD) worth Rs 8.07 crore on 23 July 2019. The total amount of securities issued were of the face value of Rs 6.30 crore. The company said that it is in discussions with its bankers for restructuring its liabilities and is working on a resolution plan to be submitted to the lenders.
In a separate announcement, the company reported that National Housing Bank (NHB) has imposed a penalty of Rs 5,000 within provisions of Housing Finance companies.
DHFL reported a net loss of Rs 2,223.41 crore in Q4 March 2019 as compared to a net profit of Rs 134.35 crore in Q4 March 2018. Total income rose 9.3% to Rs 3111.34 crore in Q4 March 2019 over Q4 March 2018.
DHFL provides access to affordable housing finance to lower and middle income families in semi-urban and rural India.
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