Shares of Dewan Housing Finance Corporation (DHFL) declined more than 7 percent intraday on June 28 after the company deferred Q4 earnings announcement.
The company was scheduled to announce Q4 earnings on June 29.
Earlier, the company had informed the stock exchanges that it will not be able to furnish the audited standalone and consolidated financial statements for FY19 within the time stipulated by SEBI norms.
DHFL said that the delay was due to new submissions under the provisions of the Companies (Indian Accounting Standards) Rules, 2015, which came into effect from April 1, 2018. This means the financial year which ended on March 31, was the first full financial year when these rules were applicable.
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At 0950 hrs, Dewan Housing Finance Corporation was quoting at Rs 76.25, down Rs 5.45, or 6.67 percent on the BSE.
The share touched its 52-week high of Rs 690 and 52-week low of Rs 60 on 3 September 2018 and 19 June, 2019, respectively.
Currently, it is trading 88.9 percent below its 52-week high and 27.67 percent above its 52-week low.