Share price of one of the largest low-income housing finance companies in India hit a new 52-week high on BSE at Rs. 358.5 in the trading session of Thursday, following bulk deals worth more than Rs. 142 crore via open market transactions.
With a market capitalisation of Rs. 15,186.2 crore, at 01:22 p.m., the shares of Aadhar Housing Finance Limited were trading in the green at Rs. 356.15, up by 8.07 percent.
According to the bulk deal data available with the NSE, fluctuations in the share prices were observed following the bulk deals amounting to approximately Rs. 142.65 crore on Wednesday through open-market transactions.
Blue Daimond Properties Private Limited purchased 23 lakh equity shares worth nearly Rs. 72.45 crore in Aadhar Housing Finance, at an average price of Rs. 315.04 apiece.
Further, Akash Bhansali, promoter of Blue Daimond Properties, also bought 22 lakh equity shares in the company at an average price of Rs. 319.06, amounting to around Rs. 70.2 crore.
In terms of financials, the company’s revenue from operations grew by nearly 7.3 percent from Rs. 614 crore in Q2 FY23-24 to Rs. 658.54 crore in Q3 FY23-24, accompanied by a rise in the net profit by 3.11 percent from Rs. 197.3 crore to Rs. 203.44 crore during the same period.
The return on equity (ROE) stood at 15.92 percent in FY22-23, up from 15.23 percent in FY21-22, while Return on Assets (ROA) grew from 3.09 percent in FY21-22 to 3.28 percent in FY22-23.
Aadhar Housing Finance’s Rs. 3,000 crore initial public offering (IPO) was open for subscription between May 8 and May 10, 2024, with a price range of Rs. 300–315 per share. The Aadhar Housing IPO had robust subscriptions in all categories over the three days of bidding and raised Rs. 898 crore from anchor investors on Tuesday, May 7.
The stock moved up by 8.8 percent on BSE to hit an intraday high at Rs. 358.5 on Thursday, compared to its previous closing price of Rs. 329.55.
One of the largest low-income housing finance companies in India, Aadhar Housing Finance Limited was established in 2010 to address the home financing needs of India’s low-income sections.
Written by Shivani Singh
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