AAVAS Financiers hits fresh record high; stock zooms 132% in 7 months

In the backdrop of the headwinds faced by the NBFC industry during FY18-19, the company has maintained steady timely investments.

Shares of the affordable housing finance company AAVAS Financiers hit a new high of Rs 1,559 apice, up 7 per cent, in intra-day trade on the BSE on Tuesday.It was trading at its highest level since its market debut on October 8, 2018. 

The scrip has zoomed 132 per cent in the past seven months, lifted by strong earnings. In comparison, the S&P BSE Sensex has rallied 10 per cent.

Healthy operational performance helped the housing finance company to post a 89 per cent year-on-year (Y-o-Y) jump in the consolidated net profit at Rs 176 crore for the financial year