Aavas Financiers surges 6% ahead of board meet for fund raising via NCDs

Thus far in the calendar year 2019, the stock has zoomed 129 per cent from the level of Rs 851 on the BSE

Shares of Aavas Financiers rallied 6 per cent on Thursday to hit a new high of Rs 1,949 on the BSE ahead of board meeting later in the day to consider fund raising via non-convertible debentures (NCDs). The housing finance company's stock surpassed its previous high of Rs 1,880, hit on December 2, 2019 in intra-day trade.

“A meeting of the executive committee of the board of directors of the Company will be held on Thursday, December 12, 2019, to consider the issue of Non-convertible Debentures (NCD) on private placement basis,” Aavas Financiers said in regulatory filing on Monday,