Aptus rallies 11% on hopes of stable asset quality, healthy profitability

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Aptus rallies 11% on hopes of stable asset quality, healthy profitability - Business Standard

Quick Summary:

Till 11:55 am; as many as 12.31 million equity shares representing 2.5 per cent of total equity of Aptus Value changed hands on the NSE, the exchange data shows.

Continued government support through subsidies, interest rate incentives, and tax benefits for homebuyers and developers under schemes like PMAY-Urban and PMAY-Gramin can stimulate housing demand and affordability, benefiting HFCs, Aptus said in its FY24 annual report.

Softer bucket delinquencies have also improved over the last two years, with 30+ days past due (dpd) of 6.3 per cent as of June 2024 (5.4 per cent as of March 2024 and 5.9 per cent as of March 2023) vis-à-vis 9.9 per cent as of March 2022, according to ICRA.