Aavas Financiers

The rise in Aavas Financiers came after the company approved issuance of non-convertible debentures (NCDs) to raise Rs 630 crore.

Affordable Housing remains a focused segment with high operational intensity and companies with mono-product focus can deliver better outcomes in the long run.

Chart check on May 27: LTIMindtree and Tata Technologies are the other two stocks seen trading above the higher-end of the Bollinger Bands on the daily scale on Monday.

Kedaara Capital and Partners Group, promoters of Aavas Financiers, on Tuesday divested 12.6 per cent in the housing finance company for Rs 1,369 crore through open market transactions. Private equity firm Kedaara Capital through its affiliate Lake District Holdings Ltd have sold the shares of Aavas Financiers, while Partners Group through its entities Partners Group ESCL and Partners Group Private Equity (Master Fund) LLC disposed of shares of Aavas on the National Stock Exchange (NSE). As per the bulk deal data available on the NSE, Lake District Holdings sold 58.39 lakh shares of Aavas Financiers, while Partners Group ESCL and Partners Group Private Equity (Master Fund) offloaded a total of 41.57 lakh shares of the housing finance company. These entities have collectively sold 99,96,950 shares, which represents a 12.6 per cent stake in Aavas Financiers Ltd. The shares were disposed of within the price range of Rs 1,370-1,370.20 apiece, taking the combined transaction value to Rs

Overall, as many as 464 stocks among the Nifty 500 were seen trading above the 200-DMA highlighting the underlying positive sentiment in the market.

SmallCap World Fund on Wednesday sold a 1.6 per cent stake in Aavas Financiers for Rs 173 crore through an open market transaction. According to the bulk deal data available with the BSE, SmallCap World Fund Inc offloaded more than 12.84 lakh shares, amounting to a 1.6 per cent stake in Aavas Financiers. The shares were sold at an average price of Rs 1,349.94 apiece, taking the deal value to Rs 173.43 crore. Post the latest transaction, SmallCap World Fund's shareholding has been reduced to 6.39 per cent from the 7.99 per cent stake at the end of March. Details of the buyers could not be ascertained. Shares of Aavas Financiers closed on a flat note at Rs 1,351 per piece on the BSE.

Analysts warn that housing finance companies (HFCs), which cater largely to affordable housing segment, may see some margin erosion

Finance Minister Nirmala Sitharaman on Tuesday in the Union Budget 2022 speech said that Rs 48,000 crore is allotted for PM Awas Yojana.

The stock slid 3.7 per cent on the BSE Sensex to end at Rs 2,385 on Friday and is down 10.1 per cent since August 17

Two promoters of AAVAS Financiers Ltd on Friday offloaded shares worth over Rs 751 crore, through open market transactions

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Thus far in the month of February, Aavas Financiers has outperformed the market by gaining 28 per cent

Aavas Financiers Ltd on Friday said its board of directors has approved raising Rs 100 crore by issuing bonds

Despite the gains over the past 2 sessions, the stock of AAVAS Financiers has underperformed the market by gaining 7 per cent in the past 3 months relative to a 14.4-per cent rally in the S&P Sensex

The value of these shares, at Rs 1,515.2 apiece is Rs 530.3 crore, as per data from the exchange

According to bulk deal data available on the BSE, AU Small Finance Bank offloaded a total of 35,00,000 shares at an average price of Rs 1,515.16 per share. This values the deal at Rs 530.30 crore

Aavas Financiers on Tuesday said its board has approved plans to raise up to Rs 100 crore by issuing bonds on private placement basis. The executive committee of the board at their meeting held on October 20, 2020, approved the issuance of rated, secured, redeemable, listed, non-convertible debentures having a face value of Rs 10 lakh, aggregating up to Rs 100 crore, Aavas said in a regulatory filing. Promoted by Kedaara Capital and Partners Group, Aavas is primarily engaged in the business of providing housing loan to customers belonging to low and middle-income segment in semi-urban and rural areas. Shares of Aavas Financiers settled at Rs 1,486.85 apiece on BSE, down 0.98 per cent from its previous close.

The company had posted a net profit of Rs 45.3 crore in the corresponding quarter of the previous fiscal year

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The stock has been the second-highest value creator among S&P BSE500 stocks