November 5, 2018 / 8:03 AM / 9 months ago

BUZZ-Indian non-banking housing finance cos fall, top govt official raises liquidity concerns

** Shares of Indiabulls Housing Finance Ltd, Dewan Housing Finance Corp Ltd and PNB Housing Finance Ltd fall

** India’s non-banking housing finance companies are facing liquidity stress and they need to review their funding model for sustainable growth, Corporate Affairs Secretary Injeti Srinivas said on Monday

** A string of defaults at an NBFC, Infrastructure Leasing and Financial Service Ltd (IL&FS), have triggered sharp falls in Indian stock and debt markets amid fears of contagion within the rest of the country’s financial sector

** Indiabulls Housing Finance, down as much as 8.1 pct, was the top loser on the NSE index, which was 0.44 pct lower as of 0749 GMT

** Dewan Housing Finance falls 12.2 pct, PNB Housing Finance declines 5.1 pct, and LIC Housing Finance Ltd slips 3.3 pct

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