Dewan Housing Finance Limited stock price fell 4.9% intraday to Rs 20.4 on the BSE, as the housing lender came under the scanner of Enforcement Directorate (ED) for giving loans to Sunblink Real Estate Private Limited which facilitated routing of Rs 2,186 crore to 1993 terror attack mastermind Dawood Ibrahim's close associate Iqbal Mirchi in Dubai.
Dewan Housing Finance Limited shares opened with a loss of 4.9% to the day's low of Rs 20.4, on the BSE. The stock's intraday low of Rs 20.4, is a mere 1.2 points higher than the 52-week low of Rs 19.20 on BSE
As per market depth data on the BSE, there is 71% selling against 28% buying on the share value. The stock trades lower than 30, 50, 150 and 200-day simple moving averages.
Overall, 5.99 lakh and 45.99 lakh shares of DHFL changed hands on the counters of BSE and NSE, respectively.
DHFL belongs to the Wadhawan family who also own RKW Developers located at the HDIL building. Enforcement Directorate (ED) has alleged that RKW Developers director Ranjit Bindra acted as a broker to negotiate the deal with Iqbal Mirchi in London.
According to an ED document, "During the statement recorded under custody, the accused (Ranjeet Bindra) accepted meetings and further negotiations with Iqbal Mirchi in London in respect of the said three properties as a broker and on behalf of Sunblink Real Estate Private Limited."
Moreover, the federal probe agency ED conducted raids at dozen premises of DHFL on Saturday in Mumbai and other places, under the provision of the Prevention of Money Laundering Act (PMLA). As per India Today TV, the documents related to the loan by DHFL have been seized by ED along with other documents pertaining to the firm.
The DHFL earlier said it had no links to the alleged dubious transactions. The NBFC in an intimation filing on Sunday said, "The officers of the enforcement directorate visited one of the offices of the company and had raised certain queries to the senior officials of the company. The company has provided the necessary documents and clarifications as required by the department as part of their investigations and remains committed to co-operate with the authorities and respond to any queries by them."
As of 1400 IST, shares of DHFL traded 4.90% lower at Rs 20.40 on the BSE, with 1.49 lakh sellers and no buyers bidding on the stock.
By Rupa Burman Roy