Now Reading: Aye Finance shares rise 4%, up 36% YTD on strong results
-
01
Aye Finance shares rise 4%, up 36% YTD on strong results
Aye Finance shares gained nearly 4% in intraday trade on Monday, reaching a high of Rs 177 on the BSE in a flat market. The NBFC stock is up 36% year-to-date, against…
The Story in Brief
Aye Finance shares gained nearly 4% in intraday trade on Monday, reaching a high of Rs 177 on the BSE in a flat market. The NBFC stock is up 36% year-to-date, against an 8% fall in the Sensex. It hit a record high of Rs 197.95 on 21 July.
The company announced the elevation of four senior leaders to chief-level posts on 10 August. Ankur Sharma was named CHRO, Piyush Maheshwari Chief Credit and Operations Officer, Akash Purswani Chief Collection Officer, and Sovan Satyaprakash Chief Strategy and Investor Relations Officer. Aye Finance's first-quarter profit jumped 144% year-on-year to Rs 74.5 crore. Brokerages IIFL Capital and JM Financial have maintained buy calls with higher target prices.
The Indian Opinion
The market is celebrating Aye Finance's results and leadership upgrades, but a 144% profit jump on a low base needs to be seen in context. The stock has recovered from an April low of Rs 88.40, but at Rs 177 it still trades below its July peak. The real test will be whether the new chief-level team can sustain 30% AUM growth and 53% EPS growth as projected by JM Financial.
Sources (2): livemint.com, hr.economictimes.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
