Aptus Value Housing stock spurts 8% after Citi initiates coverage

New Delhi: Shares of Aptus Value Housing jumped 8 per cent to the day’s high price of Rs 321.15 per share after foreign brokerage Citi initiated coverage on the stock. This was the best single day gain for the housing finance firm since August 23, 2022. The stock also crossed 50 DMA and 100 DMA levels.

Citi initiated coverage on Aptus Value with a ‘Buy’ rating and a target price of Rs 425, suggesting around 33 per cent upside from current levels.

“While NIM will contract (rise in leverage and share of home loans), the decline in credit cost should help deliver a 7.4 per cent ROA in FY24E, enabling a 29 per cent net profit CAGR in FY22-24E. Aptus trades at 4.5x/30x 1-year forward PB/PE vs Aavas at 5.3x/42x," noted Citi.


Of the seven analysts' recommendations on the stock, four have given a strong buy call, two have given a buy call and one a Hold call, according to the Trendlyne data.

Aptus Value Housing is a home-loan company that caters to the dwelling needs of self-employed, low and middle-income families belonging to semi-urban and rural areas.

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