Aadhar Housing share zooms 6% as Citi initiates with 'Buy'; 42% upside eyed

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Aadhar Housing share zooms 6% as Citi initiates with 'Buy'; 42% upside eyed - Business Standard

Quick Summary:

The informal self-employed segment has shown rapid expansion, with a 43 per cent/49 per cent CAGR over the past 4/6 years.

Using Gordon Growth model, we arrive at Rs 565 target price assigning price-to-book (PB) of 3.2x FY26E book, implying precise-to-earnings (PE) of 21x FY26E earnings per share (PEG of 1x),” said Kunal Shah, Dipanjan Ghosh and Yash Gujarathi of Citi Research, in a note.

The northward move in Aadhar Housing share came after foreign brokerage Citi Research initiated coverage with ‘Buy’ for a target price of Rs 565 per share.