Aadhar Housing up 6% as Kotak Institutional initiates coverage with 'Buy'

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Aadhar Housing up 6% as Kotak Institutional initiates coverage with 'Buy' - Business Standard

Quick Summary:

The surge in Aadhar Housing share came after Kotak Institutional Equities initiated coverage on the company with 'Buy' rating for a target price of Rs 550, marking an upside of 41%.

This approach is expected to drive a 21 per cent compound annual growth rate (CAGR) in AUM from FY2024 to FY2027.

On the flipside, potential risks include decreased net interest margins (NIM) or slower growth due to heightened competition in major centres or from larger HFCs targeting the affordable housing segment.