NBFC stocks tumble amid ongoing crisis; DHFL slides nearly 8 pc

Shares of non-banking financial companies, including DHFL, took a beating on Monday as investors continued to remain concerned about the liquidity crunch in the sector.

Among others, stocks of Indiabulls Housing Finance, Indiabulls Ventures, Piramal Enterprises and Edelweiss Financial Services also closed in the red.

Shares of the troubled DHFL closed 7.52 per cent lower at Rs 28.90 apiece on the BSE. Intra-day, the stock lost as much as 8.48 per cent at Rs 28.60.

On the NSE, the DHFL stock settled at Rs 29.15, down 6.57 per cent over its previous close. During the day, the scrip lost 8.33 per cent at Rs 28.60.

 

Indiabulls Housing Finance stock too took a beating, shedding as much as 13.22 per cent to touch its 52-week low at Rs 213. However, the stock settled 4.34 per cent lower at Rs 234.80.

Similarly on the NSE, the company stock declined 12.94 per cent to its 52-week low at Rs 213.50 during the day. It settled 3.77 per cent lower at Rs 236.

Indiabulls Ventures stock hit its lower circuit as well as 52-week low on both stock exchanges. On the BSE, it settled at Rs 99.10 and on the NSE, it closed at Rs 100.10.

Edelweiss Financial Services scrip lost 7.05 per cent to close at Rs 78.50. Intra-day, it touched 52-week low at Rs 76.30, down 9.65 per cent.

On the NSE, the stock hit 52-week low at Rs 76.30 in the intra-day trade. The stock settled 7.80 per cent lower at Rs 78.

Piramal Enterprises stock also nosedived to its lower circuit as well as 52-week low at Rs 1,436.95 on the BSE. However, the stock closed at Rs 1477.10, down 7.48 per cent over its previous close.

On the NSE, the stock settled 7.97 per cent lower at Rs 1,470. It also touched its 52-week low at Rs 1,467.20.

Crisil on Friday downgraded Edelweiss Financial Services' long-term debt instruments amid concerns over operating environment for NBFCs.

While downgrading, Crisil noted that although the group has been raising resources on an ongoing basis since September 2018, the overall fund raising remains significantly below pre-September 2018 levels.

DHFL, which has been severely impacted by the NBFC crisis which unfolded late last year following the IL&FS bankruptcy, has defaulted on multiple commitments.