InvestorQ : Is it true that Dewan Housing stock is being suspended from the stock markets and why is it so?
diksha shah made post

Is it true that Dewan Housing stock is being suspended from the stock markets and why is it so?

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1 month ago
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In fact, the NSE and the BSE have already informed its trading members that Dewan Housing would not be available for trading with effect from 14 June. As you must be aware, the NCLT ha cleared the purchase of Dewan Housing by Piramal Enterprises for a consideration of Rs.37,500 crore. Post this transaction, the equity shares will be worth nothing as the lenders are already taking a big haircut. This will avoid unnecessary speculation in the stock.

In the last few days, the stock of DHFL has been fairly speculative and showing spurts in value. Since it does not have any residual value, the exchange has rightly decided to do away with the listing and suspend the stock. Also, the final approval of the NCLT is still awaited but legal battles are likely between the former promoters and the NCLT. That would have been an unnecessary fertile ground for speculation in the stock.

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