DHFL bounces back

DHFL announced yesterday evening that it has made full payment towards interest payable on Secured Redeemable NCDs issued by way of public issue within the cure period of seven working days.

The company has made interest payments in lieu of Rs. 961 crores as committed to its debenture holders. With this tranche, the company confirms full payment and will seek rating upgrades from agencies.

The company stated that since September 2018, the company has managed to make liabilities payment of over Rs.36,000 crore without availing any fresh funding from any lender. The company reaffirms that they are committed to meeting all future debt servicing obligations in a timely manner, through further asset monetisation plans as well as onboarding of a strategic partner for its business.

This has recouped some faith in the traders after the recent spate of downgrades over non-payments though investors prefer to remain cautious and wait to see how this goes.

DHFL after being relentlessly hammered for so long, has been gaining for the past three days and is today among the top three gainers on the BSE. The stock opened with a gain of 5.5% at Rs.94.90 and went on to hit an intraday high of Rs 95.90, going up over 6.5%.