Dewan Housing share hits upper circuit after Piramal gets RBI nod for acquisition
DHFL stock rose 4.99% to Rs 18.95 on BSE. Market cap of the firm stood at Rs 594 crore. DHFL share has gained 32.98% in the last 6 days
BusinessToday.In | February 19, 2021 | Updated 11:42 IST
DHFL share has gained 74.65% in one year but fallen 36.09% since the beginning of this year. In a month, the stock has fallen 34.32%.
Dewan Housing Finance Ltd (DHFL) share hit upper circuit of 5% in early trade today after Reserve Bank of India (RBI) cleared Piramal Capital and Housing Finance s resolution plan for acquiring the bankrupt mortgage lender. The stock rose 4.99% to Rs 18.95 on BSE. Market cap of the firm stood at Rs 594 crore. DHFL share has gained 32.98% in the last 6 days.
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MUMBAI: The Reserve Bank of India (RBI) has approved the resolution plan, submitted by the Piramal Group to revive an indebted Dewan Housing Finance (
DHFL), said two people involved in the resolution process.
The central bank appointed administrator will file an application at Mumbai National Company Law Tribunal seeking approval from the court. In the next two-three days, the application is likely to be filed.
RBI could not be contacted immediately for comments.
“The central bank had a timeline of 45 days to approve it, but it took just about three weeks reflecting a fast-paced process,” one of the persons cited above told ET.