New Delhi, Feb 14 (PTI) Shares of DHFL bounced back sharply Thursday after early losses and closed the day nearly 16 per cent higher, a day after the company announced resignation of its CEO Harshil Mehta. Also Read - Sharad Pawar to Undergo Gall Bladder Surgery Today: NCP

Dewan Housing Finance Corporation Limited stock zoomed 15.69 per cent to close at Rs 127.90 on the BSE. Intra-day, it cracked 5.92 per cent to Rs 104. Also Read - NASA Delays First Flight of Mars Helicopter to April 14

On the NSE, the scrip erased early losses and closed at Rs 127.70, a gain of 14.83 per cent. Intra-day, it dropped 6.51 per cent to Rs 103.95. Also Read - Tika Utsav Day 1: Over 27 Lakh People Receive Coronavirus Vaccine Jabs Today

On the traded volume front, 59.76 lakh shares were traded on the BSE and over 5 crore units on the NSE.

“DHFL management commentary underplayed the resignation of the CEO by reallocating him to a retail focused portfolio but the bounce was imminent as the stock was deeply butchered,” said Umesh Mehta, head of research, Samco Securities Ltd.

“However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019,” DHFL said in a regulatory filing on Wednesday.

Besides, the board has recommended appointment of Sunjoy Joshi as an independent director and, Srinath Sridharan as a non-executive director.

This is published unedited from the PTI feed.