NBFC stock crashes 25% in month, but ICICI Securities sees a potential 50% rally - Do you own it? Check target price

Shares of Aye Finance ended higher on Friday, after seeing sharp 12% decline over the week. Despite the sharp decline, ICICI Securities, sees 50% upside potential in the NBFC stock on the back of its sustained profitability through superior execution.

Aye Finance share price 25.56% in one month. As the Gurugram-headquartered NBFC recently announced its earnings for the second quarter of financial year 2026-27, here’s experts’ take on stock outlook.

Aye Finance share price outlook

Strong market positioning, execution capability and resilient asset quality have presented a strong case for Aye Finance growth outlook. The NBFC delivered a strong Q2FY27 quarter which underscores the strength of its market positioning in the INR 0.15mn– 0.5mn ticket size segment.

“Aye is also effectively utilising its differentiated underwriting models (cluster & AI-ML led) and execution capability to navigate the macroeconomic headwinds. Despite a rising rate cycle, Aye’s cost of borrowing fell 20bps to 10.6%, with incremental costs moderating further to 10% in Q2FY27,” highlighted ICICI Securities in its report.

Aye Finance share price recommendation

The brokerage gave ‘Buy’ rating to the stock with a revised target price of ₹200 per share, indicating a 50% upside potential in Aye Finance stock. Earlier, ICICI Securities had set a target price of ₹285 per share. “Maintain BUY with a revised TP of INR 200 (vs. INR 285 earlier), as we lower the valuation multiple to 1.4x on FY28E BVPS (2x earlier) to factor in near-term volatility,” read the brokerage report.

Aye Finance share price trend

The stock closed 1.01% higher at ₹134.55 per share on BSE with a market capitalisation of ₹3,320.53 crore on Friday, October 23. With a return on equity (ROE) of 10.75%, Aye Finance share price value has declined 14.54% in two weeks and around 25.56% in one month.