Shares of the leading housing finance company Dewan Housing Finance Corporation Ltd (DHFL) surged on Monday over 7 percent intraday on reports that the company is planning to sell 10% stake to Baring India, Hero Fincorp and Bain Capital for raising funds.
Earlier, DHFL had sold nearly 80% of the stake in Aadhar Housing Finance to Blackstone Group to reduce liquidity crunch at the company.
During Monday post morning deals, the stock touched a high and low of Rs132 and Rs124.90 intraday. At 11.20 am, the DHFL stock however cut its early gains and was trading up by 5.36% at Rs129.80 on the NSE and BSE. Meantime, the Sensex trade lower at 35570 down 238 points, while the Nifty dropped 60 points 10649.