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DHFL shares fall 9% after Piramal Enterprises says only interested in portfolios

DHFL shares fall 9% after Piramal Enterprises says only interested in portfolios

DHFL shares fall 9% after Piramal Enterprises says only interested in portfolios
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By Mousumi Paul  Apr 30, 2019 11:17:09 AM IST (Published)

Dewan Housing Finance Ltd (DHFL) shares fell about 9 percent after Piramal Enterprises in its media call on April 26 said it has no intention to invest in DHFL.

Dewan Housing Finance Ltd (DHFL) shares declined 9 percent after Piramal Enterprises said the company is interested in buying only various loan portfolios and not buying the shares of the troubled NBFC. At 09.55 AM, the stock price was trading at Rs 131.70 per share, down 8.06 percent from its previous close, while the Nifty50 fell 0.81 percent at 11,659.20.

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In its media call on April 26, Piramal said that it has no intention to invest in DHFL, and is evaluating the possibility to acquire its home loan portfolio.
DHFL
Piramal Enterprises said, “We are looking at various portfolios concerning home loans, one of which is DHFL. We are looking at their portfolios. If it all we do, we are just acquiring a portfolio or part of the portfolio and not acquiring or investing in the shares of the company.”
“We are conservative when we look at the portfolios. We want to see the quality if the portfolio and what value we get,” Piramal said.
DHFL’s P/E (Price-to-earnings) stands at 3x with return on equity of 14 percent. Total assets as of December 31, 2018 is at Rs 96,839 crore.
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