Friday, 21st September 2018, was dramatic in the Indian stock market. The BSE Sensex, which opened on a strong footing, suddenly tanked 1,127.58 points, or 3.03 per cent, to hit a low of 35,993.64 in afternoon trade, before staging an equally sharp recovery within minutes. It finally closed at 36,841.60, down 279.62 points. Shares of housing finance firms slumped, with Dewan Housing Finance tumbling up to 42 per cent on fears of a liquidity crisis. Reports of debt defaults by IL&FS also sparked concerns, which spilled over into other NBFC counters. Our Analysis.
Housing has evolved from literally nothing to a 7.5-8 per cent mortgage-to-GDP ratio. As demographic changes are playing out, this ratio will go up. We are very certain that over the next decade this number will be in the teens
Buoyed by its successful first public offer of non-convertible debentures (NCDs) recently, housing finance firm DHFL on Friday said it will raise another Rs 10,000 crore through the instrument within next 12 months