
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.
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.