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Dewan Housing Fin Rises On MF Biz Depart

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Shares of Dewan Housing Finance Corp (DHFL) traded in the green, hitting share price at intraday high at Rs.83.45per share, during the afternoon session on Thursday.

The Non banking financial Company on Wednesday said it has obtained the Sebi approval to exit its Mutual Fund (MF) business by selling its 50pc stake to Prudential Financial. 

The company had come into an accord with PrudentialFinancial to divest its 50pc holding in DHFL PramericaAsset Managers, 17.12pc held directly &32.88pc held by its arm, DHFL Advisory& Investments. 

With response to this development, the stock of DewanHousing Finance Corp traded a little higher by 1.07%  at Rs80.60per share on the NSE.  In comparison, the Nifty traded lower at 11829.75 down by 17.80pc at the Sensex stood at 39546.91 down 45.17 points at 3.10pm.