DHFL Shares Slump Another 8% On Worries Of Default

Shares in DHFL slumped another 8% on Friday, following Thursday's sharp drop as worries over servicing debt obligations came to the fore.

The stock was last trading at Rs 86.40, down another 8 per cent in trade. CRISIL had earlier this week, downgraded DHFL debt securities to 'D' or default category.

According to a news report in the Economic Times, the company is looking to raise about Rs 900 crore by issuing Pass Through Certificates (PTCs), or securities used in loan portfolio sales.

The shares of the company have slumped from 52-week high levels of Rs 691, seen in the month of Sept 2018, to the current levels of Rs 88. The ongoing liquidity crunch in the sector has weighed on the company.

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