September 24, 2018 / 4:59 AM / 7 months ago

BUZZ-India's Dewan Housing Finance on track for best day ever

** Dewan Housing Finance Corp’s shares surge as much as 25 pct to 438.2 rupees, their record daily pct gain

** Shares tanked over 42 pct on Friday amid liquidity concerns over housing finance companies

** Sentiment was soothed after co said later on Friday it had sufficient liquidity and was in complete control over its loans

** Co is repaying 4 bln rupees on Sept 24 as per schedule, it said in a statement on Monday

** Rating agencies CARE Ratings and ICRA Ltd reaffirmed their credit ratings on co on Saturday

** “Expect markets to be more conservative in lending to NBFCs (non banking financial companies), which is likely to push up pricing. For NBFCs as a whole, we think the issue is funding cost (and hence NIM) rather than liquidity,” Morgan Stanley analysts write

** Over 32.5 mln shares traded vs their 30-day avg volume of 7.7 mln shares

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