Dewan Housing share declines over 8%

Dewan Housing Finance share price declined 8.88% to 68.70 level compared to previous close of 75.40 on BSE. Dewan Housing Finance share price fell 88.80% during the last one year and has fallen 71.13% since the beginning of this year.

Two major credit ratings agencies, ICRA and Crisil, earlier had categorised DHFL’s commercial paper at default levels for missing bond payments. Dewan Housing said in a regulatory filing it would make the outstanding payment in the next few days “once the surplus cash flow position improves” and stressed it was vying to turn the corner.

“The company is already in the process of selling down its loan assets including wholesale project loans to make good all its obligations and maintain its 100% commitment to all its creditors as it has done since the liquidity crisis started in September 2018,” DHFL said.