DHFL declines 5% after 3 consecutive sessions of gains

NEW DELHI: Shares of Dewan Housing Finance Corporation (DHFL) declined over 5 per cent in Tuesday's session and looked on course to break the winning streak of last three sessions, when it jumped 25 per cent.

In a BSE filing on Monday, the company said it had paid Rs 2,66,76,712 in interest on its non-convertible debentures. The board of directors of the company is scheduled to meet on Saturday, June 29, 2019, to consider and approve audited financial results for March quarter and for the financial year ended March 31, 2019.

Media reports suggested that lenders of DHFL may meet in July first week to work out a rescue package for the debt-ridden firm.

A Business Standard report said the rescue package may include reworking of loan payments, fresh working capital support, roping in a financial investor and putting a new management team in place.

A number of lenders, including SBI, HDFC Bank, ICICI Bank, Axis Bank, Union Bank and others have a total exposure of over Rs 40,000 crore to DHFL. Shares of the mortgage lender traded 3.17 per cent down at Rs 76.25 on BSE at 12:30 pm on Tuesday.