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NBFC Stocks Bleed in Trade Today; DHFL Shares Lead Fall


The stocks of most non-banking finance companies (NBFC) fell they dragged BSE's Sensex over 1,000 points in the trading session on Friday.

Why Did DHFL Shares and Other NBFC Stocks Crash in Trade Today?

Shares of Dewan Housing Finance Corporation (DHFL) more than halved at from a 57.42 percent drop. Other firms that followed suit were Indiabulls Housing Finance (-29.88 percent), IL&FS Investment Managers (-19.84 percent), Religare Enterprises (-19.52 percent), VLS Finance (-16.73 percent), L&T Finance Holdings (-15.81 percent), Crest Ventures (-15.66 percent), Centrum Capital (-15.36 percent), SREI Infrastructure Finance (-15.35 percent), Magma Fincorp (-15 percent), Shriram Transport Finance (-14.99 percent), Reliance Home Finance (-14.71 percent), Reliance Capital (-14.55 percent), Bajaj Finserv (-14.42 percent), Capri Global Capital (-14.20 per cent), Bajaj Finance (-14.01 percent), LIC Housing Finance (-13.54 percent), IDFC (-13.23 percent), Reliance Nippon (-12.76 percent) and Can Fin Homes (-12.72 percent).

Experts say that borrowing for NBFC will become challenging after the recent news on IL&FS. Infrastructure Leasing and Financial Services Ltd (IL&FS) plans on selling a majority stake of its financial services unit and other assets worth Rs 4,500 crore to pay off its debts. This raised a sense of panic among investors in the NBFC sector.

The biggest loser among the NBFCs, DHFL had recently raised Rs 2,000 crore through non-convertible debentures (NCDs) to fund its business growth.

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