Buy Aavas Financiers, target price Rs 2055: Axis Securities
Axis Securities has a buy call on Aavas Financiers with a target price of Rs 2055. The current market price of Aavas Financiers is Rs 1864.6. The time period given by the analyst is a month when Aavas Financiers price can reach the defined target. Aavas Financiers, incorporated in 2011, is a Mid Cap company with a market cap of Rs 14751.61 crore, operating in the NBFC sector.
Aavas Financiers' key products/revenue segments include Interest, Income From Financial Services, Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2024.
Financials For the quarter ended 31-03-2024, the company has reported a Consolidated Total Income of Rs 546.80 crore, up 7.37% from last quarter Total Income of Rs 509.26 crore and up 21.40% from last year same quarter Total Income of Rs 450.40 crore. The company has reported net profit after tax of Rs 142.48 crore in the latest quarter.
The company's top management includes Mr.Sandeep Tandon, Mr.Sachinderpalsingh Jitendrasingh Bhinder, Mr.Kalpana Kaushik Mazumdar, Mrs.Soumya Rajan, Mr.Nishant Sharma, Mr.Manas Tandon, Mr.Rahul Mehta, Mr.Vivek Vig, Mr.Ramchandra Kasargod Kamath. Company has S R Batliboi & Associates LLP as its auditors. As on 31-12-2024, the company has a total of 8 Crore shares outstanding.
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Investment Rationale
Aavas Financiers has formed a strong base around 1640 on the weekly chart, aligning with the 50% Fibonacci retracement of the 1307?1979 rally, and has rebounded sharply. The stock has been in accumulation
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