Shares of Aptus Value Housing Finance India climbed more than 3% in Monday's trade on the Bombay Stock Exchange, outperforming a cautious broader market weighed down by rising crude oil prices.
The move follows a recent upgrade from Citigroup, which sees over 30% upside potential in the non-banking financial company's stock.
The stock has been a standout performer in the Indian financial sector, jumping more than 35% over the past three months.
The stock has been a standout performer in the Indian financial sector, jumping more than 35% over the past three months.
This sustained buying interest suggests investors are favoring selective growth stories within the NBFC space, even as macro headwinds from energy costs create volatility in the wider equity market.
Citi's positive outlook highlights the bank's confidence in Aptus's business model and growth trajectory.
The analyst note serves as a key catalyst for the recent price action, reinforcing the stock's momentum amid a period where broader Indian indices have shown mixed signals.