DHFL crashed 43%, Indiabulls Housing down 8% why NBFC stocks fell like falling knife?
DHFL Crashed nearly 55% on the mid session of the day and finally closed at 43% down at Rs 450.55 . In case of Indiabulls Housing it was down near about 20% in intraday and finally closed at 8% down at Rs 1062.15 .
The company DHFL lost nearly Rs 10000 crore worth in Market Cap.
Shares of housing finance companies came under sudden heavy selling pressure on Friday as investors raised concern over rising cost of borrowing for the companies amid amid continuing financing crises IL&FS.