NHB classifies company's account as Fraud
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.2 pts more than its Housing Finance Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Star Housing Finance has received an order from the National Housing Bank classifying the company's account as Fraud. This follows a Forensic Audit conducted by auditors appointed by NHB. The management is reviewing the order and determining the appropriate course of action.
Negative signal. Fraud classification may restrict lending operations, raise funding costs, and weigh on the stock price.