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DHFL slips on ICRA downgrading rating for its Rs 8,000-crore CP programme

27 Feb 2019 Evaluate

Dewan Housing Finance Corporation (DHFL) is currently trading at Rs. 130.05, down by 0.80 points or 0.61% from its previous closing of Rs. 130.85 on the BSE.

The scrip opened at Rs. 132.00 and has touched a high and low of Rs. 136.00 and Rs. 128.35 respectively. So far 1458103 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 690.00 on 03-Sep-2018 and a 52 week low of Rs. 97.00 on 04-Feb-2019.

Last one week high and low of the scrip stood at Rs. 143.80 and Rs. 125.45 respectively. The current market cap of the company is Rs. 4173.85 crore.

The promoters holding in the company stood at 39.21%, while Institutions and Non-Institutions held 26.35% and 34.44% respectively.

Credit Rating Agency, ICRA revised rating for the Rs 8,000-crore commercial paper (CP) programme of DHFL to A2+ from A1+.

The rating revision takes into account the moderation in the company’s financial flexibility owing to challenges faced in raising funds from traditional bank lines and debt market instruments, and the consequent impact on the company’s ability to generate fresh business.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

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