Bajaj Housing Finance’s Peer Rallies Over 10 Per Cent, Hits 52-Week High – Trading Volumes on BSE Surge 6 Times; SBI Mutual Fund Recently Purchased 1,82,32,694 Shares
Both the FIIs and DIIs have increased their stakes in the company in June quarter.
Aptus Value Housing Finance India Ltd, a Small-Cap housing finance company, is one of the key competitors of the recently listed Bajaj Housing Finance in the Indian market.
The shares of Aptus Value Housing Finance India Ltd have rallied over 10 per cent today with a significant trading volume on the BSE. Aptus was established to cater primarily to the housing finance needs of self-employed, low, and middle-income families, focusing on semi-urban and rural areas. The company targets first-time home buyers, with collateral being self-occupied residential properties.
In contrast, shares of Bajaj Housing Finance have been declining since reaching an all-time high of Rs 188.50 on September 18, following the IPO listing. Currently, the stock is trading at a discount of around 25 per cent. Today, the stock remained in the red, falling by approximately 6 per cent, and eventually closed at around Rs 141.95 per share.
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Meanwhile, shares of Aptus Value Housing Finance India Ltd surged over 10 per cent on the BSE today, with trading volumes increasing by more than 6 times. The stock also hit a 52-week high of approximately Rs 401.70 per share during the session.
At the start of today's trading session, the stock opened at Rs 365.35 per share, compared to the previous day's closing of Rs 361 per share on the BSE. Finally, closed at Rs 388.75 per share on the BSE. The stock's 52-week high reflects strong demand in the market. The company’s current market capitalization stands at Rs 19,427 crore, and the stock has delivered an impressive return of over 30 per cent in the past year.
According to the latest quarterly update, SBI Mutual Fund purchased 1,82,32,694 shares in May 2024 at an average price of Rs 294 per share.
In the first quarter of FY25, Aptus Value Housing Finance India Ltd reported a revenue of Rs 395 crore, with an operating profit of Rs 344 crore. Net profit for the quarter was Rs 172 crore, up from Rs 142 crore. For FY24, the company generated a revenue of Rs 1,365 crore, compared to Rs 1,093 crore in FY23. The operating profit for FY24 stood at Rs 1,140 crore, and net profit increased to Rs 612 crore from Rs 503 crore in FY23.
As per the shareholding pattern, promoters hold 53.97 per cent of the company, while public or retail investors own 14.08 per cent. Both FIIs and DIIs increased their stakes in the June quarter of FY25.
Disclaimer: The article is for informational purposes only and not investment advice.