Adani Group strong contender for DHFL; Piramal, Apollo also said to be in fray; stock up 5%

The Adani Group has expressed interest in the retail and wholesale book of Dewan Housing Finance Corporation (DHFL), sources told CNBC-TV18.

The Indian conglomerate may be a strong contender for the troubled mortgage lender, alongside other biggies like Piramal and Apollo, sources added.

Moneycontrol could not independently verify the report.

State Bank of India Chairman Rajnish Kumar told the channel that many suitors are expected for DHFL because 'it's a good franchise'. However, he did not comment on the names of contenders in the fray for the mortgage lender.

On November 20, the Reserve Bank of India (RBI) superseded the board of DHFL following payment defaults and governance concerns. Meanwhile, SEBI Chairman Ajay Tyagi said mutual funds would also join the resolution process of DHFL which would be done under the framework of the insolvency law.

At 15:15 hours, the counter was quoting Rs 21.15, up Rs 1.00, or 4.96 percent.