AAVAS

March 21 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• AAVAS FINANCIERS - SURPASSES 200 BILLION RUPEES IN ASSETS UNDER MANAGEMENT

Source text: [ID:]

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Feb 21 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• OPEN OFFER FOR ACQUISITION OF 26% STAKE IN AAVAS FINANCIERS BY AQUILO HOUSE - FILING

Source text: ID:nNSE87b4Hw

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Jan 30 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• DEC-QUARTER PROFIT 1.46 BILLION RUPEES

• DEC-QUARTER INTEREST INCOME 5.12 BILLION RUPEES

Source text: ID:nBSECSkmn

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Jan 7 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• APPROVES ISSUANCE OF NCDS WORTH 2 BILLION RUPEES

Source text: ID:nNSE41Vspb

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Nov 7 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• SEPT-QUARTER PROFIT 1.48 BILLION RUPEES

• SEPT-QUARTER TOTAL REVENUE FROM OPERATIONS 5.79 BILLION RUPEES

Source text: ID:nBSE4wVncM

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MUMBAI, Oct 28 (Reuters) - India's Aavas Financiers AVAS.NS has raised 6.30 billion rupees ($74.94 million) through the sale of bonds maturing in five years, three bankers said on Monday.

The company invited bids from bankers and investors for the issue on Friday, they said.

Aavas will pay a spread of 148 basis points over the six-month overnight index swap rate, and the coupon currently works out to be 8.07%. The coupon will be reset and paid semi-annually.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Oct. 28:

*Size includes base plus greenshoe for some issues

($1 = 84.0670 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Abinaya Vijayaraghavan)

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MUMBAI, Oct 24 (Reuters) - India's Aavas Financiers AVAS.NS plans to raise at 6.30 billion rupees ($74.93 million) through the sale of bonds maturing in five years, three bankers said on Thursday.

It has invited bids from bankers and investors for the issue on Friday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Oct. 24:

*Size includes base plus greenshoe for some issues

($1 = 84.0770 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza
Editing by)

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Oct 22 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• INDIA COMPETITION REGULATOR: APPROVES PROPOSED ACQUISITION OF AAVAS FINANCIERS LIMITED BY AQUILO HOUSE PTE

Source text for Eikon: [ID:]

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Oct 1 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• TO INCREASE AFL PRIME LENDING RATE BY 25 BASIS POINTS, EFFECTIVE OCT 16, 2024

Source text for Eikon: ID:nNSE8yrPr7

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** Aadhar Housing Finance AADA.NS rise 4.6% to record-high of 485.50 rupees

** JM Financial starts with "buy" and 600 rupees target price, 29% upside to last close

** JM notes AADA has longest track record in affordable housing space, with total AUM of 217 bln rupees ($2.60 bln)

** Expects AADA's deeper geographical presence and Indian govt push on housing to aid AUM growth at 20% CAGR over FY24-26

** Says AADA's focus on low income group and geographical presence results in strong productivity metrics

** Stock up ~47% since listing in mid-May

** That's more than peers Aavas Financiers AVAS.NS and Can Fin Homes CNFH.NS YTD gains of ~23% and ~14%, respectively

(Reporting by Dimpal Gulwani in Bengaluru)

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Sept 18 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• AAVAS FINANCIERS LTD - TO ISSUE NON-CONVERTIBLE DEBENTURES FOR UPTO 6.30 BILLION RUPEES

Source text for Eikon: [ID:]

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** Shares of Home First Finance HOME.NS rise 6.2% to 1,095.9 rupees

** Housing finance co reported a 27% rise in Q1 PAT, buoyed by a 31% rise in interest income

** More than 1.2 mln shares traded, 3x its 30-day avg

** Avg rating of 16 analysts is a "strong buy" vs "buy" rating on rivals Shriram Finance SHMF.NS, Aavas Financiers AVAS.NS - LSEG data

** Stock up 18% so far this year; SMHF is up 33.7% and AVAS is up 14.4%

(Reporting by Ashna Teresa Britto in Bengaluru)

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July 25 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• AAVAS FINANCIERS LTD JUNE-QUARTER PROFIT 1.26 BILLION RUPEES

• AAVAS FINANCIERS LTD JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 5.42 BILLION RUPEES

Source text for Eikon: ID:nBSE8q19l4

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Repeats story published on July 19 with no changes to text

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

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By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

** Shares of Aavas Financiers AVAS.NS down 3.2% to 1800 rupees, lowest since June 11

** Promoters Kedaara Capital and Partners Group are weighing a complete exit from the housing finance co, Moneycontrol reported citing sources

** Shares see busiest day in over 2 weeks, with more than 576,000 traded

** Avg rating of 19 analysts covering the stock is "Buy;" their median PT is 1880 rupees - LSEG

** Stock up 17% YTD, after declining 17% in 2023

(Reporting by Aleef Jahan in Bengaluru)

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** Jefferies expects Modi-led coalition government to announce affordable housing scheme in upcoming budget, says likely will lift growth in affordable housing loans

** Brokerage sees Aavas Financiers AVAS.NS and Home First Finance Co India HOME.NS as direct beneficiaries

** AVAS, HOME add 5.4% each on the day

** Brokerage prefers Can Fin Homes CNFH.NS over LIC Housing Finance LICH.NS among larger players

** CNFH and LICH up 2.3% and 4.3%, respectively

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Shares of Shriram Finance SHMF.NS up as much as 5% at 2,417.85 rupees, last up 2.7%

** NBFC says it will sell its entire stake in unit Shriram Housing Finance to Warburg Pincus in a deal valued at 46.30 bln rupees ($554.5 mln)

** Valuation ~18% below Morgan Stanley's valuation of 57 bln rupees, in-line with Axis Capital's expectation

** Sale could lead to a P&L gain of 23.5 bln rupees (3% of market cap)- CLSA

** Adds Warburg's valuations lower than that of other housing finance cos like Aavas Financiers AVAS.NS, Home First Finance HOME.NS, Aptus Value Housing Finance India APTS.NS

** Analysts avg rating on SHMF "buy"; median PT 2,900 rupees - LSEG data

** Stock up ~16% YTD vs 2% rise in Nifty 50 Index .NSEI and 1% dip in Nifty Financial Services Index .NIFTYFIN

($1 = 83.5040 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

** Shares of Aavas Financiers AVAS.NS rise as much as 5.23% to a six-month high of 1,689.30 rupees apiece; last up 2%

** Housing finance company posts 12% year-on-year rise in consolidated net profit in March quarter

** Loan growth of 22% and disbursement growth of 19% in March quarter is encouraging, says Jefferies; raises target price to 2,000 rupees from 1,940 rupees earlier, reiterates "buy" rating

** Expects return-on-equity to improve to 16% by fiscal 2026 from 14% currently

** Says valuation of AVAS is at a discount to peers

** The trailing 12-month (TTM) price-to-earnings (P/E) ratio, a measure of valuation, of AVAS is 26.76, higher than Aptus Value Housing Finance APTS.NS, Home First Finance HOME.NS - LSEG data

** Mean recommendation of 19 analysts tracking AVAS is "buy"; median price target at 1,775 rupees - LSEG

(Reporting by Bharath Rajeswaran in Bengaluru)

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April 25 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• MARCH-QUARTER CONSOL PROFIT 1.42 BILLION RUPEES VERSUS PROFIT 1.27 BILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.46 BILLION RUPEES VERSUS 4.5 BILLION RUPEES

Source text for Eikon: ID:nNSE4xjwBx

Further company coverage: AVAS.NS

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Adds comments from Citi note in bullet 3

** Shares of Aavas Financiers Ltd AVAS.NS up 6.3% at 1,544 rupees, their highest since Jan. 17

** Mortgage bank lender's assets under management (AUM) up 22% y/y as of March-end, disbursements up 20%

** Citi believes AVAS can maintain margins despite rise in financing costs, sees AUM rising 24% in FY25 and 25% in FY26

** Jefferies maintains "Buy", with PT of 1,940 rupees; says it sees growth improving on the back of tech rollout, other initiatives

** Around 630,000 shares traded vs 30-day avg of ~691,000 shares

** Nineteen analysts tracking AVAS rate it "Buy" on avg; median PT is 1,692.5 rupees - LSEG data

** Stock turns YTD positive to trade up 0.6%

(Reporting by Nandan Mandayam in Bengaluru)

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April 4 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• DISBURSEMENT IN Q4FY24 GREW 20% Y/Y

Source text for Eikon: ID:nNSEb130D

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** Shares of India Shelter Finance Corporation IDNI.NS up 5.7% to 619.65 rupees

** Kotak Institutional Equities initiates coverage on housing finance co with "buy" rating, fair value of 685 rupees

** Expects co to deliver 35% AUM CAGR over FY2023-26, higher than 22%-29% expected for peers including Aavas Financiers AVAS.NS, Aptus Housing APTS.NS and Home First HOME.NS for the same period

** Adds, IDNI has strong potential for near-term growth, driven by its presence in affordable housing finance and geographically diversified loan book

** However, some risks include effective execution in new geographies, maintaining strong asset quality performance, managing a high fixed-rate loan book, potential repercussions of rating downgrades

** IDNI has risen 9% YTD, compared with its peers, whose YTD performances range between declines of 2.3% and 13.9%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Shares of housing finance firm Aavas Financiers AVAS.NS fall as much as 7.7% to 1321 rupees, their lowest since Sept 2020

** About 10.3 mln shares change hands in five block deals in the range of 1369 rupees to 1375 rupees apiece, below closing price of 1431.70 rupees on Monday

** Busiest session of the stock since listing in 2018; more than 11.5 mln shares change hands, 60 times the 30-day avg

** Eighteen analysts covering the stock on average have a "buy" rating; median PT is 1660 rupees - LSEG data

** Stock down 10.7% so far this year, had lost 17% in 2023 for a straight second year of losses

(Reporting by Dimpal Gulwani in Bengaluru)

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Feb 1 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• DEC-QUARTER CONSOL PROFIT 1.17 BILLION RUPEES VERSUS PROFIT 1.07 BILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.08 BILLION RUPEES VERSUS 4.11 BILLION RUPEES

Source text for Eikon: ID:nNSE8hMx2v

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Dec 22 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES WORTH UPTO 6.50 BILLION RUPEES

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS

Source text for Eikon: ID:nBSEHv0Hz

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Dec 19 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• TO CONSIDER PROPOSAL FOR ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS

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Oct 26 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• SEPT-QUARTER CONSOL PROFIT 1.22 BILLION RUPEES VERSUS PROFIT 1.07 BILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.97 BILLION RUPEES VERSUS 3.95 BILLION RUPEES

Source text for Eikon: ID:nBSE9SkLps

Further company coverage: AVAS.NS

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Aug 3 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• INDIA'S AAVAS FINANCIERS JUNE-QUARTER CONSOL PROFIT 1.1 BILLION RUPEES VERSUS PROFIT 890.5 MILLION RUPEES

• AAVAS FINANCIERS LTD JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.67 BILLION RUPEES VERSUS 3.53 BILLION RUPEES

Source text for Eikon: ID:nBSE9hz4GJ

Further company coverage: AVAS.NS

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June 28 (Reuters) - Aavas Financiers Ltd AVAS.NS:

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES FOR UPTO 1.5 BILLION RUPEES ON PRIVATE PLACEMENT BASIS

Source text for Eikon: ID:nNSE3T28q7

Further company coverage: AVAS.NS

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