Riding an upswing

With stock price surging by 141% from its all-time low in October 2018, Aavas Financiers’ top management including its CEO sold shares worth ₹665 million on May 6

In October last year, the market found itself in the clutches of a credit crunch triggered by IL&FS default. The non-banking financial companies (NBFCs) were the worst hit as the rising cost of credit put the brakes on the upward earnings trajectory. And adding to the investors’ pessimism, the crude prices hit a peak to $84 per barrel.