Aptus Value Housing Finance shares made its debut at a discount of near 5.60 per cent against its issue price of ₹346 to ₹353. Despite positive momentum witnessed at Indian stock market today, shares of Aptus Value Housing Finance made a muted listing at ₹333 — down around ₹20 per equity share. According to stock market experts, the stock may further go down. They advised Aptus share holders to book loss at current levels and make fresh entry below ₹300 for 9 months target of ₹440 per stock levels.
Advising Aptus Value Housing share holders to hold the counter for long-term; Jyoti Roy, DVP- Equity Strategist at Angel Broking said, “On account of consistent strong financial performance, industry leading return ratios and good asset quality, Aptus shares are expected to perform well in the long-term. This listing at discounted price is due to the recent high volatility in the markets and we believe that once the volatility in the market is gone, there can be sharp upside movement in the stock as the company has got strong fundamentals.”
Standing in sync with Angel Broking expert’s views; Ravi Singhal, Vice Chairman at GCL Securities said, “The counter looks strong in long-term time horizon but the volatility in the market may continue for few more trade sessions and shares of Aptus Value Housing Finance may come below ₹300. So, my advice to the share holders of Aptus Value Housing Finance is to exit at current levels and re-enter when the stock comes below ₹300 for the 9 months target of ₹440.” However, Ravi Singhal of GCL Security strictly advised investors to maintain stop loss at ₹270 while taking fresh position in the counter.
Never miss a story! Stay connected and informed with Mint.
our App Now!!