India's Aavas Financiers fall over 4% on block deals

Aavas Financiers

20/04/2023 09:53

** Shares of Aavas Financiers Ltd.  AVAS.NS  fall as much as
4.41%, steepest intraday decline in over a month, to 1,682.10
rupees
    ** About 355,496 shares of the housing finance company
change hands in three blocks as of 2:12 p.m. IST, at a price
between 1,700 rupees and 1,709.45 rupees per share
    ** Stock is most active in over a month, with trading volume
at 469,081 shares as of 2:12 p.m. IST, quadruple the 30-day avg
of 124,831 shares
    ** Stock has fallen over 6% since April 18 after global
brokerage Morgan Stanley initiated coverage on AVAS with an
"equal weight" recommendation, citing expensive valuations 
    ** Of the 15 analysts tracking AVAS, nine maintain "buy",
one suggests "sell" and five recommend "hold"; median TP is 2253
rupees




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))