Aavas Financiers gains 3%, hits new high; stock zooms 132% in 2019

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

Shares of Aavas Financiers gained 3 per cent on the BSE on Tuesday to hit a new high of Rs 1,976, in an otherwise subdued market, on the expectation of good earnings growth going forward. The S&P BSE Sensex was down 0.38 per cent at 41,399 points at 10:29 am.

The stock has been the second-highest value creator among the S&P BSE500 stocks, zooming 132 per cent in calendar year 2019. In comparison, the benchmark S&P BSE Sensex was up 15 per cent during the year.

A sharp rally in the housing finance company has been attributed to