DHFL stocks drop 17 pct amid reports claiming withdrawal of premature deposits

Shares of Dewan Housing Finance tanked over 17 per cent in early trade Wednesday amid reports that the company will no longer accept fresh deposits from the public or renew the existing deposits. Dewan Housing Finance Corporation (DHFL) has also stopped the withdrawal of premature deposits with immediate effect, as per the reports.

On the BSE, the scrip of the non-banking finance company opened on a negative note and further slumped 17.51 per cent to Rs 107.15. On NSE, the shares declined 17.80 per cent to Rs 106.85. Last week, the firm in regulatory filings said credit rating agencies CRISIL, ICRA, CARE Ratings and Brickwork Ratings have downgraded the company's ratings.