Japanese brokerage Nomura initiates coverage on Indian housing finance company Aadhar Housing Finance, giving it a 'buy' rating and setting a target price of ₹550 per share.
Japanese brokerage Nomura has initiated coverage on Indian housing finance company Aadhar Housing Finance, giving it a 'buy' rating and setting a target price of ₹550 per share. Nomura believes Aadhar Housing Finance holds the most diversified loan book and the strongest profitability among its peers, with a potential 20% growth from FY24 to FY26F. Nomura also expects India's home loan market to double in the next five years, growing at a rate of 14%-15% over the next decade.
July 17, 2024
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