Stock to buy, April 1 -- Brokerage firm IDBI Capital has initiated coverage on the Aadhar Housing Finance shares with a constructive outlook, led by its strong positioning in the affordable housing finance industry.

The brokerage firm has assigned a 'buy' rating to Aadhar Housing Finance stock, with a target price of Rs.537 apiece, suggesting an upside potential of up to 20% from its last closing price of Rs.449.80.

"We initiate with a BUY rating with a target price of Rs. 537, valuing the stock at 2.3x FY28E P/BV," it said in a note.

The brokerage firm expects the company's asset under management (AUM) to reach Rs.50,000 crore by FY29, while return on assets (RoA) to sustain at 4.5-4.6% and return on equity (RoE) at 16-17% over the me...