India's Aavas Financiers rises after higher Q2 profit, AUM growth
BUZZ-India's Aavas Financiers rises after higher Q2 profit, AUM growth ** Shares of India's Aavas Financiers AVAS.NS rise as much as 3.2% to 1,162.80 rupees; stock last up 0.89%
** Housing finance co says September-quarter profit increased about 11% Y/Y, revenue up 10% Y/Y
** Emkay Global upgrades AVAS to "buy" from "add" on improving execution, rising productivity and higher AUM growth
** Systematix says disbursements grew 16% Y/Y, which supported AUM growth of 16% that reflects better operating efficiency
** Notes housing loan mix fell 63:37 from 67:33 a year earlier, indicating a bigger push for home loan growth** Stock rated "buy" on avg by 22 analysts, with median PT of 1,677.50 rupees - data compiled by LSEG
** Stock down 22.32% YTD
($1 = 95.1850 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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