Shares of Dewan Housing Finance Corporation Ltd (DHFL) tanked 10 percent after news portal Cobrapost alleged that the mortgage lender's promoters siphoned off about Rs 35,000 crore.
As many as 32 Indian and foreign banks lent Rs 97,000 crore to DHFL Group companies with many borrower companies having the same addresses, directors and auditors, the news portal said.
DHFL shares hit 52-week low of Rs 161.30 in intra-day trade, after opening at Rs 182.85. Shares quoted at Rs 169.45, down by 8.36 percent on the NSE at 3.23 pm.
The midcap mortgage lender stock has corrected by 72 percent in the last one year. The first wave of correction in the current fiscal was triggered by the IL&FS default crisis in mid-October, which spooked the non-banking financial sector.
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First Published: Jan 29, 2019 3:33 PM IST
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