INSUBCONTINENT EXCLUSIVE:
Only DHFL shares - out of a total of 16 housing finance companies' shares - traded in the green.Housing finance company DHFL and
construction major ILFS, which supposedly led the sudden fall in markets on Friday, traded with gains on Monday
At 10:50 am, Dewan Housing Finance Limited or DHFL stock price was at Rs 403.60, up Rs 52.05 or 14.81 per cent on the Bombay Stock Exchange
of default on bond payments and alleged exposure to debt-hit ILFS.The DHFL management had then sought to reassure investors saying, "We wish
to categorically state that DHFL has not defaulted on any bonds or repayment nor has there been any single instance of delay on any of its
repayment of any liability
We do not have any exposure with ILFS
DHFL continues its loan growth disbursements in the affordable housing segment going forward."ILFS and its associates owe a debt of $12.5
billion, of which $500 million is due over the next six months
It is, however, facing a cash crunch as it has only $27 million of liquidity at hand
This has led to a debt-repayment crisis that threatens to engulf banks, mutual funds, insurance and pension funds.The government, however,
said on Monday that it will ensure liquidity in mutual funds, non-banking housing companies (NBFCs) and small and medium enterprises
(SMEs).In Monday's trade, however, only DHFL shares - out of a total of 16 housing finance companies' shares - traded in the green on the
BSE, whose benchmark Sensex was down 172.34 points to 36,669.26 by 11 am.On Friday, NBFCs led a panic sell-off on Dalal Street as the Sensex
tanked over 1,100 points before closing 279 points lower 36,841.
