New Delhi, Nov 5 (PTI) Housing finance stocks fell by up to 5 per cent Monday amid persistent concerns over liquidity situation.Also Read - Poll Strategist Prashant Kishor Meets Rahul Gandhi in Delhi, Punjab Elections Likely on Agenda
Shares of DHFL tanked 4.60 per cent, Indiabulls Housing Finance tumbled 4.24 per cent, Reliance Home Finance declined 3.24 per cent, LIC Housing Finance fell 2.24 per cent, GRUH Finance dropped 0.67 per cent and Can Fin Homes dipped 0.33 per cent on the BSE. Also Read - International Travel Update: Germany, Norway And Iceland Reopens Visa Application Centres in India
Amid authorities working on ways to tackle the IL&FS crisis, Corporate Affairs Secretary Injeti Srinivas Monday said non-banking financial companies (NBFCs), particularly housing finance firms, are facing liquidity issues but there is “no crisis”. Also Read - Black Fungus Declared Epidemic in Delhi - What Does This Mean?
He also emphasised that there is a need to introspect the business models followed in the NBFC sector and adopt the model that is sustainable.
The IL&FS crisis, triggered by debt defaults by some group companies, has sparked off concerns over liquidity in the system, while the corporate affairs ministry last month superseded the holding company’s board as part of larger efforts to contain the situation.
This is published unedited from the PTI feed.