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Shares of home loan provider Dewan Housing Finance Corp Ltd (DHFL) pare most of early losses and trade 3.8 per cent down at Rs 162.85, after a conference call by company management.
Shares had plunged as much as 9.5 per cent to Rs 153.55 in early trade, their lowest since Feb 29, 2016.
The company would be able to generate liquidity of Rs 4,000 crore - Rs 5,000 crore in the next few months, Chairman and Managing Director Kapil Wadhawan said on a conference call
DHFL's shares fell 8 per cent on Tuesday following a media report that alleged financial misappropriation by company's controlling shareholders.
The company has plans to monetise life insurance business and has begun the process of selling down bulk portfolio - Wadhawan.
DHFL will soon announce plans to raise debt from overseas markets, he added
More than 26.7 million shares traded in the morning, which is 2.6 times their 30-day moving average of 10.3 million shares.
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