While the default crisis has led to a mayhem in debt funds, even equity funds are facing the heat due to the crash in NBFC stocks Many equity and hybrid funds hold NBFC stocks, which have seen their share prices recede by up to 88% in the past year. The worst affected, DHFL, has crashed nearly 88% from its 52-week high of Rs 691, wiping out more than Rs 16,000 crore of investor wealth. The stock has lost more than Rs 19,000 crore in market cap in the past year. Fifty-eight equity schemes held more than two crore shares of DHFL in April 2018.By April this year, this was down to 37 lakh shares held by 11 schemes. Bajaj Finance alone saw its market cap shoot up 60% by Rs 75,679 crore.

Source: Economic Times June 10, 2019 00:56 UTC