Aadhar Financing shares jumped over 3% after Citi initiated a “Buy” rating with a target price of ₹565.
Citi cited Aadhar’s consistent AUM growth of 16% CAGR over 4–6 years and its strong, diversified distribution network as key drivers.
Enhanced technological capabilities have bolstered productivity and analytics, with projected PAT growth of 22% for FY24–27E and an RoE estimate of 16.5%. While risks like promoter dilution and a growing informal borrower base were noted, Citi remains optimistic about Aadhar’s robust fundamentals and growth outlook.
Aadhar Financing shares opened at ₹414.50, hitting a high of ₹418.00 and a low of ₹406.10 during the trading session. The stock remains well below its 52-week high of ₹516.80 but comfortably above its 52-week low of ₹292.00. As of 9:26 AM, the shares were trading 3.36% higher at Rs 408.80.
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