India's Aavas Financiers jump as analysts bullish on growth

Aavas Financiers

25/05/2023 08:02

** Shares of Indian lender Aavas Fianciers  AVAS.NS  rise up
as much as 3.53% at 1434.25 rupees, their steepest intraday
climb since May 8 
    ** Co posts its highest level since May 15
    ** Brokerage Motilal Oswal says co well-positioned to
achieve its growth targets, capitalize on emerging market
prospects 
    ** Co has developed underwriting capabilities that extend
across the entire customer pyramid, from economically weaker
sections (EWS) to affluent customers - MO note 
    ** MO says co maintained healthy assets quality track record
    ** Kotak analysts says growth will be strong in geographies
in which co has been operating for more than five years 
    ** Affordable segment has high perceived risk, co developed
a robust/strong risk framework - Kotak note 
    ** More than 618,991 shares change hands, 2.2 times 30-day
average of 287,704 shares 
    ** Five analysts of 15 suggest "buy" or higher, seven
recommend "hold" while three rate "sell" or lower, median PT is
1850 rupees 
    ** Aavas stock down ~24% so far this year 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))