Share price of this NBFC stock moved up by nearly 4.92% to Rs. 1,425 in the trading session of March 6th, compared to its previous close of Rs. 1,358.1, after SBI Mutual Fund bought stake in the company.
With a market capitalisation of Rs. 10,992.51 crores, the shares of Aavas Financiers Ltd. closed in the green at Rs. 1,391 on NSE, up by 2.42 percent.
In the last one year, the company has delivered negative returns of about 23.82 percent and nearly 16.71 percent in the last six months. So far in 2024, it has given negative returns of more than 10.4 percent.
According to the bulk deal data available on the NSE, SBI Mutual Fund bought 63 lakh equity shares in Aavas Financiers Limited on Tuesday at an average price of Rs. 1,370, for a total transaction value of Rs. 863.1 crore.
Singapore-based Amansa Holdings Private Ltd. also bought around 23.59 lakh equity shares in the company, worth Rs. 323.23 crore, at an average price of Rs. 1,370.
However, on March 5th, the share price of the company fell to a new 52-week low of Rs. 1,321, after a private equity firm Kedaara Capital through its affiliate Lake District Holdings Ltd. sold nearly 58.39 lakh shares of Aavas Financiers for Rs. 800.02 crore.
Further, Partners Group ESCL and Partners Group Private Equity (Master Fund) LLC also offloaded about 41.57 lakh shares of the housing finance company, and the total transaction value was of Rs 569.58 crore.
In terms of financials, the revenue from operations of the company grew by nearly 2.21 percent QoQ from Rs. 497 crore in Q2 FY23-24 to Rs. 508 crore in Q3 FY23-24.
The net profit of the company decreased by around 4.09 percent QoQ, from Rs. 122 crore in Q2 FY23-24 to Rs. 117 crore in Q3 FY23-24.
Aavas Financiers Ltd. is mainly engaged in the business of providing housing loans to customers belonging to low and middle-income segments in semi-urban and rural areas.
Incorporated in 1956, the company got registered with the National Housing Bank as a Housing Finance Company (HFC) in 2011. In 2018, the company got listed on both BSE and NSE.
Written by Shivani Singh
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