DHFL Shares Hit Lower Circuit As Edelweiss Seeks Recovery Of Dues
Extending their losing streak to four trading sessions, DHFL shares fell as much as 9.98 percent, the lower circuit of the stock, to Rs 23.50 apiece.
"Our subsidiary, Edelweiss Asset Management Limited (which has various schemes of mutual funds) has approached the Mumbai High Court for recovery of principal and interest dues from DHFL, in line with action taken by other peers in the industry," Edelweiss Financial Services said in an exchange filing.
On Oct. 7, Central Depository Services (India) Ltd. froze DHFL's promoter shareholding because of delay in announcement of the company's earnings for April-June quarter of the current financial year. In response, DHFL told the stock exchange that its board meeting has been scheduled for Oct. 17 to consider and approve the Q1 results.