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Dewan Housing share rises 5% as lender files resolution application with NCLT

Although the stock price has risen over 4.5% in the last week, it has fallen 23% in one month, 33% since the beginning of the year

twitter-logoBusinessToday.In | February 26, 2021 | Updated 14:25 IST
Dewan Housing share rises 5% as lender files resolution application with NCLT
The stock of the housing finance company has risen 15.45% in the last 3 days

Share price of debt-ridden mortgage lender Dewan Housing Finance Corporation Ltd (DHFL) hit a 5% upper circuit on Friday. The stock rose after the lender said it has received no objection from the Reserve Bank and has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Ltd (PCHFL) with the National Company Law Tribunal.

Trading in heavy volumes, Dewan Housing Finance Corp. Ltd share price gained 5% to Rs 19.80 on BSE today, against the last close of Rs 18.90. The stock also hit day's low of Rs 19.10 after opening at Rs 19.50.

The stock of the housing finance company has risen 15.45% in the last 3 days.

Market capitalisation of the housing finance firm currently stands at Rs 621.37 crore. Market depth on BSE suggests only buyers bids and no sellers offering the stock.

Although the stock price has risen over 4.5% in the last week, it has fallen 23% in one month, 33% since the beginning of the year. DHFL stock price trades higher than 5, 20 and 200-day moving averages but lower than 50, 100-day moving averages.

The stock has touched a 52-week high of Rs 43 and a 52-week low of Rs 8.40.

"Pursuant to the receipt of no objection from Reserve Bank of India as per Insolvency and Bankruptcy Rules, 2019, the DHFL administrator has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) with NCLT's Mumbai Bench," the company said in an exchange filing.

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