The government has asked the RBI for a dedicated liquidity window for these lenders similar to one allowed for the entire Indian financial sector during the 2008-2009 global financial crisis.

Dewan Housing Finance Corporation (5.16%), Indiabulls Housing Finance (6.04%), Reliance Home Finance (3.13%), Gruh Finance (2.02%), VLS Finance (1.06%), Reliance Capital (1.33%), PNB Housing Finance (1.01%), and LIC Housing Finance (2.36%) were the major losers in the sector.

Reliance Industries fell 2.8 percent, while Housing Development Finance Corporation slipped 1.6 percent. Hindustan Petroleum Corp Ltd fell 4.77 percent, and was the top loser on the NSE index.

Sensing a big opportunity, Jhunjhunwala bought the distressed stock to raise his holding to 1 crore shares for the quarter ending September compared to 86,65,264 shares in the previous quarter.

Rakesh Jhunjhunwala has notched up big notional losses in portfolio stocks, especially in the midcaps space.

The share opened 4 per cent lower at Rs 180.35 in the morning trade and scaled to one-year low at Rs 92.60.

Assuring lending support to non-banking financial companies, SBI Chairman Rajnish Kumar on Sunday said there was no concern on liquidity of such firms, amid ongoing debt crisis in IL&FS Group.

What brought on the heavy selling in the stocks of non-banking finance companies (NBFCs)? Blame it on tightness in the money market and investor concerns over rising cost of borrowing for the companies amid continuing financial crisis at IL&FS.

The stock of Dewan Housing Finance fell 59.67% or 364 points to a new low of 246.25, the most among the NBFCs.

In Asia, Hang Seng fell 975 points or 3.13%, Nikkei crashed 974 points or 4.51% and the Taiwan Sec Index was down 182 points or 1.66%. India felt the jitters of the global market crash with the Sensex and Nifty falling up to 523 points and 150 points, respectively. 

Domestic mutual funds have invested over Rs 1.23 lakh crores in equities between December 2016 and January 2018. Looking at the constituents of the BSE500 index, there are 95 companies where mutual funds have consistently increased their stake between December 2016 quarter and December 2017 quarter.

Kapil Wadhawan has built a large financial services empire by serving people at the bottom of the pyramid.

Taking calculated risks and thinking long term separated the best CEOs from the good ones.

Dewan Housing Finance Corporation today said it will raise up to Rs 10,000 crore through issuance of secured non-convertible debentures (NCDs) in one or more tranches.

HFCs gained after the RBI said that banks can now provide loans up to 90 per cent for properties that cost Rs 30 lakh or below.