Aptus Value shares slump 5% after large deal worth Rs 1,075 crore
Shares of Aptus Value Housing Finance India slumped nearly 5 percent on May 21 after a large deal worth Rs 1,075 crore took place on the exchanges.
Around 3.6 crore shares, making up a 7.2 percent stake in Aptus Value changed hands in the large trade. Moneycontrol could not immediately identify the buyers and sellers involved in the transaction.
At 09.30 am, shares of Aptus Value Housing Finance were trading at Rs 301.40 on the NSE.
Earlier this month, the housing finance company posted a 21 percent on year rise in its consolidated net profit to Rs 164 crore for the March quarter of FY24, up from Rs 135 crore in the year-ago period.
That’s a significant drop for Aptus Value. Here’s what might be behind it based on a news report from March 9, 2023:
- Stake Sale Talks Denial: Aptus Value Housing Finance India Ltd.’s share price fell after the company denied media reports suggesting Cholamandalam was interested in acquiring a majority stake.
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sip - Clarification Impact: Following this clarification, investor sentiment likely turned negative, leading to the 5% drop in share price.
It’s important to note that this news is from March 2023. It would be helpful to look for more recent news articles to see if there have been any other developments that might explain the current stock price movement.
There isn’t clear information available at this time to definitively say whether demand for Aptus Value is high or low. However, here’s what we can glean from recent news:
- Stock Price Drop: There was a significant drop (around 5%) in Aptus Value’s share price today, May 21, 2024 [Capital Market News].
- High Trading Volume: Trading volume for Aptus Value surged today, exceeding 70 times the two-week average [Capital Market News]. This high volume could indicate either increased buying or selling activity.
Without further details, it’s difficult to say for certain if the high volume reflects buying due to sudden demand or selling pressure causing the price drop.
Here are some resources to help you stay updated on Aptus Value’s demand:
- News Articles: Keep an eye out for recent news articles about Aptus Value. These might mention factors affecting demand, such as company announcements, industry trends, or analyst ratings. You can search for “Aptus Value Housing Finance India Ltd share price news” to find relevant articles.
- Financial Websites: Financial websites like [ICICI Direct] or economic times might provide information on Aptus Value’s share price movement and analysis, which can be helpful in understanding demand trends.