IL&FS fallout: HFC stocks take a beating


IL&FS fallout: HFC stocks take a beating

Non-banking housing finance companies are facing a liquidity stress, and they need to review their funding model for sustainable growth, corporate affairs secretary Injeti Srinivas said on Monday.

Defaults at IL&FS have triggered a sharp fall in the Indian stock and debt markets amid fears that the contagion of the crisis could spill over to the broader financial system. Shares in most housing finance companies, including Indiabulls Housing Finance and Dewan Housing Finance Corporation, were trading down on Monday.

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