This Article is From Nov 13, 2018

Foreign Investors Buy DHFL, Indiabulls Housing Finance Shares After Rout

Sharad Dubey
Economy
Nov 13, 2018 12:23 pm IST
- Published On Nov 13, 2018 12:23 pm IST
- Last Updated On Nov 13, 2018 12:23 pm IST

Read Time: 1 min

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Foreign Investors Buy DHFL, Indiabulls Housing Finance Shares After Rout

Stacks of 50 subject one dollar note sheets pass through a KBA-NotaSys SA large examining printing equipment machine after receiving a serial number and the U.S. Treasury and U.S. Federal Reserve seals at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S. (Photographer: Andrew Harrer/Bloomberg)

The recent rout made the two worst-hit housing finance stocks attractive for foreign investors.

Of the top six mortgage lenders by market value, foreign portfolio investors increased stake sequentially in only Dewan Housing Finance Corporation Ltd. and Indiabulls Housing Finance Ltd. in the quarter ended September.

FPI holding in Dewan Housing rose to 19.43 percent from 18.2 percent three months earlier, according to its exchange filing. Their stake in Indiabulls Housing Finance increased to 55.52 percent during the period from 54.34 percent.

Shares of Dewan Hosing and Indiabulls Housing Finance have fallen nearly 62.1 percent and 24.3 percent, respectively, since June 30, according to Bloomberg data. The latest slide in stock prices came after defaults at IL&FS group companies triggered a liquidity crunch for non-bank lenders in September.