Aavas Financiers saw its shares jump nearly 5% in Tuesday’s early trading hours as selling pressures from Small Cap World Fund cooled. 

The domestic insurance company sold around 7.7 lakh equity shares on Monday, amounting to nearly 1% stake in Aavas Financiers. Societe Generale acquired a 0.5% stake in the company.

Shares of Aavas Financier were trading at Rs 1,512.35, 3.68% higher than the previous close price. The stock increased by 4.9%, touching an intraday high of Rs 1,537. The stock is up for the third straight day, gaining over 10%. 

In a block deal on Monday, Small Cap World Fund sold around 7.7 lakh shares of Aavas Financiers, a 0.97% stake, at an average price of Rs 1,437.74 per share, totalling around Rs 110.77 crore. 

Societe Generale bought 3.96 lakh shares or a 0.5% stake of Aavas Financiers at an average price of Rs 1,427.21 per share on June 26. As of the March quarter, Societe Generale held nearly an 8% stake in the company.