The panic in the stock market and Dewan Housing FinanceNSE -42.58 % (DHFL) shares on Friday may find its roots in the IL&FS fiasco. A trade in the bond markets, where DSP Mutual Fund sold NCDs of DHFL at a higher yield, triggered speculation that there could be ratings downgrade in the housing finance company.
DSP sold NCDs — short-term debt instruments issued by company — of DHFL worth ₹300 crore at a yield of 11%. The yield was way higher than the rate at which the previous ..
