New Delhi, Sept. 16 -- Shares of non-banking financial company (NBFC) AAVAS Financiers have been on an uptrend of late. However, PL Capital believes the stock is ready for an uptrend. On 16 September, the brokerage firm upgraded the stock to a 'buy' from an 'accumulate', with a target price of Rs.1,685, implying a 33% upside potential from the stock's previous session (15 September) close of Rs.1,269.

PL Capital has turned positive about the stock after meeting the housing finance company's (HFC) management.

AAVAS Financiers shares are down 12% year-to-date (YTD). However, on a shorter timeframe of six months, it is up 13%.

The stock has shed 23% over the last year, hitting a 52-week low of Rs.1,050.25 on 30 March this year and a 52-we...