New Delhi, May 19 -- Shares of small-cap non-banking financial company (NBFC) Aye Finance witnessed healthy buying interest in intraday trade on Tuesday, 19 May, as brokerage firm IIFL Capital initiated coverage on the stock with a 'buy' rating.

Aye Finance shares opened at Rs.130.05 against their previous close of Rs.128.20 and rose as much as 4.7% to an intraday high of Rs.134.25. Around 11:10 am, the small-cap NBFC stock was 4.41% up at Rs.133.85, looking set to extend gains for the second consecutive session. In the previous session, the stock rose 2.3%.

Domestic brokerage firm IIFL Capital has initiated coverage on the stock with a buy recommendation, pegging the target price to Rs.180, implying a 40% upside potential.

"Aye trades...