Investors planning to buy shares of Dewan Housing Finance Limited (DHFL) need to be careful at this time. The debt-laden company’s shares are going to be de-listed soon. On Tuesday, its shares hit the upper circuit of ten per cent and reached Rs 22.85. But analysts say that investors should not be lured by its rise. Those who are looking to buy shares of this company, they should stay away from it at this time as their value will be zero with de-listing. Investors who have its shares should also exit from it, whether there is a loss or Advantage.
Piramal Capital to buy DHFL
In fact, the National Company Law Tribunal (NCLT) has given green signal to Piramal Capital and Housing Finance Limited to buy the sunken company DHFL. NCLT approves Piramal’s resolution plan. With the approval of NCLAT and Supreme Court, DHFL will become of Piramal Capital. Therefore, according to the rules, the shares of DHFL will be removed from the stock market. In such a situation, all the investors’ money will be drowned in it.
Investors can get 26% return from this stock, Big Bull is also included in Rakesh Jhunjhunwala’s portfolio
On Tuesday, the shares of DHFL were locked in the upper limit of 10 percent. This happened for the second consecutive day. Since June 2, this stock was going up continuously and so far it has climbed 27 percent but investing money in it is no longer free from danger. The country’s largest brokerage firm Zerodha has tweeted that with the acquisition of DHFL, its share price will become zero. The money invested in this can drown all your money. It is also being said that on Tuesday the upper circuit was felt because there was no one to sell this stock.
Analysts warn
Capital Mind’s founder Deepak Shenoy has also warned that if investors invest in DHFL, all their money can be lost. Shares of debt-laden mortgage firm Dewan Housing Finance Limited (DHFL) may soon be de-listed from the stock market. The National Company Law Tribunal (NCLT) has given its nod to Piramal Capital and Housing Finance for the acquisition of DHFL. For this the company had offered 37,250 crores.
(Stock recommendations in the story are based on information provided by research analysts and brokerage firms. Financial Express Online takes no responsibility for any investment advice. Please consult your advisor before investing.)
(Article: Surbhi Jain)
Get Business News in Hindi, latest India News in Hindi, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.