Shares in DHFL set to tumble, awaiting resolution plan

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Shares in DHFL set to tumble, awaiting resolution planShares in one of India's biggest home loan and property finance companies, Dewan Housing Finance Ltd (DHFL), are expected to fall sharply on Monday after the lender reported dismal results and warned about its grim financial situation. DHFL reported a net loss of 22.23 billion rupees ($324.3 million) for the quarter ended March 31, in a regulatory filing late on Saturday. The company's ability to raise funds has been substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements, DHFL said in the note accompanying the results.

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