Aadhar Housing Finance Limited, one of the largest low-income housing finance companies in India, saw its share price hit a new 52-week high on the Bombay Stock Exchange (BSE) at Rs. 358.5 during Thursday’s trading session. This surge was a result of bulk deals worth over Rs. 142 crore through open market transactions.
As of 01:22 p.m., the company’s market capitalization stood at Rs. 15,186.2 crore, with its shares trading in the green at Rs. 356.15, up by 8.07 percent. The fluctuation in share prices was attributed to bulk deals amounting to approximately Rs. 142.65 crore on the previous day.
Blue Diamond Properties Private Limited acquired 23 lakh equity shares of Aadhar Housing Finance for nearly Rs. 72.45 crore, while Akash Bhansali, a promoter of Blue Diamond Properties, purchased 22 lakh equity shares at an average price of Rs. 319.06, totaling around Rs. 70.2 crore.
In terms of financial performance, the company reported a 7.3 percent growth in revenue from operations from Q2 FY23-24 to Q3 FY23-24, with a 3.11 percent increase in net profit during the same period. The return on equity (ROE) and Return on Assets (ROA) also showed positive trends.
Aadhar Housing Finance conducted a successful initial public offering (IPO) of Rs. 3,000 crore, with robust subscriptions across all categories. The stock price surged by 8.8 percent on BSE to reach an intraday high on Thursday.
Established in 2010, Aadhar Housing Finance Limited aims to cater to the home financing needs of low-income segments in India. DailyBubble sees this positive market performance as a reflection of the company’s growth potential and commitment to serving underserved communities.