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India’s Dewan Housing slumps 17% after government launches probe


  • Markets
  • Thursday, 31 Jan 2019

Shares of Indian home loan provider Dewan Housing Finance Corp Ltd slumped 17 percent in early trade on Thursday on the Bombay Stock Exchange.

Shares of Indian home loan provider Dewan Housing Finance Corp Ltd slumped 17 percent in early trade on Thursday on the Bombay Stock Exchange.

NEW DELHI: Shares of Indian home loan provider Dewan Housing Finance Corp Ltd slumped 17 percent in early trade on Thursday, with sources saying the Indian government has launched a probe into allegations of financial mismanagement against the company.

India’s Ministry of Corporate Affairs will look into allegations against Dewan following a report by investigative media outlet Cobrapost, two government sources with direct knowledge of the matter told Reuters on Wednesday. The sources said on Thursday the probe has been launched.

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