Dewan Housing falls 4% on profit booking after 8-day rally

Dewan Housing Finance Corporation fell nearly 4 percent on Tuesday due to profit booking. The stock had been rallied 25.7 percent in eight consecutive sessions till yesterday.

The stock may have rallied after the company decided to merge two companies with self.

First Blue Home Finance Limited, subsidiary of the company has received approval from the Delhi High Court for amalgamation of First Blue Home Finance and DHFL Holdings Private Limited with Dewan Housing Finance Corporation.

The company had already received similar approval in respect of amalgamation from the Bombay High Court. It had already filed the same with the Registrar of Companies, Mumbai.

At 12:13 hours IST, the stock was down 3.92 percent to Rs 212 on Bombay Stock Exchange.

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