Shares of Dewan Housing Finance Corporation Limited (DHFL) have recovered from intra-day low of Rs. 104 on the BSE after the company shrugs off CEO's resignation. The stock last quoted higher by 15.78% at Rs. 128, against previous session's closing price of Rs. 110.55 per share. DHFL shares in trade today made an intra-day high of Rs. 131.15 on the BSE.
The company's shares in the opening trade on Thursday traded in the red after company's Joint Managing Director (MD) and Chief Executive Officer (CEO) Harshil Mehta resigned with immediate effect on Wednesday. Though, as per a regulatory filing, Harshil Mehta will continue his association with the company in the position of Executive President- Retail Business with effect from 14th February 2019.
Further after the Cobrapost expose, the promoters of DHFL, Wadhawans are looking out for a strategic investor to provide fresh equity to the company. And the decision to this effect is likely to be taken in 90 days. Consequently, the promoter holding in the company will be diluted.