Aavas Financiers surges 21% in four days after CARE upgrades credit rating

The stock was trading higher for the sixth straight day, up 5 per cent at Rs 1,205, its highest level since listing on October 8, 2018, on the BSE.

Shares of Aavas Financiers were trading higher for the sixth straight day, up 5 per cent at Rs 1,205 apiece, hitting a new high on the BSE.

Since March 1, in the past four trading sessions, it has rallied 21 per cent after CARE Ratings upgraded its credit rating to AA-/stable from A+/positive for long term bank facilities and long term instrument – subordinated debt. The rating agency reaffirmed A1+ rating on the proposed commercial paper issue.

The stock of housing finance company was trading at its highest level since listing on October 8, 2018. It has rallied 43