The stocks of Aavas Financiers Limited started their trading session today at Rs 1,477 and currently trade for Rs 1,511. The scrip witnessed an intra-day high price of Rs 1,537 indicating a gain of almost 5 percent compared to the previous closing levels of Rs 1,463.20.
According to the data available on the National Stock Exchange (NSE), Smallcap World Fund, a Foreign Institutional Investor in the company, sold 7.70 Lakh equity shares, equating to a 0.97 percent stake, at an average price of Rs 1,437.74. As per the March 2023 quarter, the Fund had a stake of 7.99 percent.
Further, the Bulk Deal data showed that Societe Generale, another foreign investor, bought a partial stake of 0.50 percent by way of buying 3.96 Lakh equity shares at an average price of Rs 1,427.21.
The latest financials of the Aavas Financiers, on a consolidated basis, have shown decent improvements with the operating revenues going up from Rs 1,304 crores during FY21-22 to Rs 1,608 crores in FY22-23. Moreover, the net profit numbers, during the same time horizon, took a shift from Rs 355 crores to Rs 429 crores.
Coming onto the profitability ratios, the return on equity (ROE) increased from 12.65 percent during FY21-22 to 13.14 percent in FY22-23 and the return on capital employed (ROCE), keeping the timeframe the same, showed a drastic movement from 8.58 percent to 34.03 percent.
The shareholding pattern exhibits the Promoters holding a 39.14 percent stake, and Foreign Institutional Investors (FIIs) holding a 38.83 percent stake in the company.
Aavas Financiers Limited is engaged in the business of providing ‘Housing Loans’ to customers who generally belong to the low and middle-income segments. The product portfolio includes home loans, micro, small and medium enterprise (MSME) loans, etc.
Written by Amit Madnani
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