Mirae Asset Capital Markets has given Aadhar Housing Finance a 'buy' rating, stating that the company has strong growth prospects. They have set a target price of Rs 555 per share, which suggests a potential upside of around 34% from current levels.

Aadhar Housing Finance has expanded its operations to 21 states and is now focusing on increasing its market presence in selected Tier 4 and Tier 5 regions. The company is expected to achieve a compound annual growth rate (CAGR) of 21.5% in assets under management (AUM) from FY24 to FY26. This growth will be driven by its extensive distribution network and the potential for growth in the economically weaker section (EWS) and low-income group (LIG) segments. The Pradhan Mantri Awas Yojana (PMAY) scheme is also expected to contribute to the favorable industry trends.

Following this news, the shares of Aadhar Housing Finance initially rose by almost 4%, but later adjusted to trade at Rs 423.4 per share due to overall muted market sentiment.