Aavas Financiers shares surge 2% after Citi maintains ‘Buy’ rating with target price of Rs 2,170

Aavas Financiers’ shares soared over 2% after Citigroup reiterated its ‘Buy’ rating with a target price of ₹2,170. As of 10:18 AM, Aavas shares were trading at 2.08% higher at Rs 1,700.75.

Citi’s positive outlook is fueled by Aavas’ strong position in the secured financing sector and anticipated positive catalysts in the near future.

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Key Highlights:

  • Positive Catalysts Ahead: Aavas is on Citi’s 90-day positive catalyst watch, with expectations for favorable developments.
  • Performance Outlook: A preference for secured financiers in Q3 boosts optimism, with AUM growth expected to rise by 5%.
  • Budget Expectations: Higher CLSS subsidies are expected in the upcoming budget, enhancing Aavas’ disbursement outlook.
  • Disbursement Normalization: Aavas’ disbursement normalization will provide operational stability in the coming months.
Aavas Financiers’ shares opened at ₹1,685.80, reaching a high of ₹1,711.95 and a low of ₹1,675.20 during trading. The stock has seen significant movement over the past year, with a 52-week high of ₹1,978.95 and a low of ₹1,307.00.
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