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DHFL Shares Decline Over 3% After Company Completes Stake Sale In Aadhar Housing

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In intra-day trade on Tuesday, DHFL or Dewan Housing Finance Corporation Limited shed all its opening gains and lost over 3% to hit day's low of Rs. 86.60 on the BSE. The stock was last trading down by 0.95% at Rs. 88.65.

The fall in the stock price comes a day after the NBFC company announced that it has paid the principal and interest on some of the debt instruments that were due on Monday. In a regulatory filing on Monday, DHFL said it paid Rs. 10.02 crore in interest on 4 of the non-convertible debentures or NCDs and Rs. 35 crore in principal on one of them.

DHFL Decline Over 3% After Company Completes Stake Sale In Aadhar Housing
 

Earlier the company's commercial paper was categorized to be defaulting for missing on bond payments by credit rating agencies Crisil and ICRA.

Also, the company completed its stake sale in Aadhar Housing Finance to a business entity, which is backed by. Blackstone Group LP. For the past few trading sessions, the stock of DHFL has been trading in the red and as a result concerns around the financial health of the NBFC sector have again resurfaced.

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