DHFL shares surged more than 3.5%

Housing finance company DHFL’s stock is getting more than 3.5% today.

The Board of Directors of DHFL has approved the sale of the company’s entire stake in Avanse Financial Services. DHFL will sell Olive Vine Investment, a subsidiary of the Warburg Pincus Group, to sell 1,92,50,719 shares of Avance Financial (total 30.63% shareholding), which is a total shareholding in the company. 

Some regulatory and other approvals are necessary with some conditions for the deal.

Meanwhile, DHFL’s share in the BSE has risen to 137.80 rupees today with an increase of 132.00 rupees compared to the previous closing price of Rs 139.90 in the business till now. It is running at around 136.80 rupees with an increase of 4.80 rupees or 3.64% at around 12 o’clock. At this price the company’s market capitalization is Rs 4,294.67 crore. At the same time, its last 52 weeks peak is Rs 690.00 and the lowest level is 97.00 rupees.

DHFL, one of the country’s 50 largest financial companies, was set up in 1984. By June 2018, the company had 209 branches and 113 service centers.

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