DHFL stock prices plunge 10% to hit 52-week low

New Delhi: Shares of DHFL hit lower circuit by slipping almost 10 per cent to its 52-week low on Wednesday after CDSL freezed shareholding of the mortgage lender's promoters due to delay in announcement of financial earnings.

The stock nosedived 9.86 per cent to Rs 26.05 on the BSE.

On the NSE, the scrip tanked 9.84 per cent to Rs 26.10.

The shares hit lower circuit on both the stock exchanges.

Leading depository CDSL freezed shareholding of the promoters of debt-ridden mortgage lender DHFL due to delay in announcement of the company's financial earnings, sources had said earlier.

In a filing to stock exchanges on Monday, DHFL said the meeting of its board of directors is scheduled to be held on October 17, 2019, to consider and approve the un-audited financial results for the first quarter ended June 30.

"Any action taken by the stock exchanges or depositories as a result of delay in submission of the above financial results by the company is purely procedural in nature and does not materially impact the company or the promoters," DHFL said.

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