This asset management company's shares get buy rating from brokerage - Check details

Brokerage firm Aditya Birla Money has recommended a ‘Buy’ rating for Abans Holdings shares with a target price of Rs 710 apiece.

"We anticipate that AHL’s earnings to likely grow at a CAGR of 25% over the FY24-26. Given AHL’s strong positioning and diversification, the company is well-placed to benefit from growth opportunities both in India and internationally. Therefore, we recommend a BUY rating with a target price of ₹710 per share. Recent correction has given a good opportunity to take position in AHL as there are no change in fundamentals which lead to sharp correction," the brokerage said.

Meanwhile, benchmark equity indices ended almost flat in a highly volatile trade on Tuesday after the Sensex breached the 85,000 mark for the first time and the Nifty hit the 26,000 level in intra-day due to selling in Hindustan Unilever, Kotak Mahindra Bank and ICICI Bank.

Investors are struggling to find clear directions following a record rally, traders said.

In the morning trade, the 30-share BSE Sensex scaled the 85,000 level for the first time, while the NSE Nifty hit the historic 26,000 mark during the fag-end.

After oscillating between highs and lows, the 30-share BSE benchmark dipped 14.57 points or 0.02 per cent to settle at 84,914.04. During the day, it jumped 234.62 points or 0.27 per cent to scale a fresh all-time intra-day peak of 85,163.23.

The Nifty eked out a marginal gain of 1.35 points or 0.01 per cent to 25,940.40. During the day, it climbed 72.5 points or 0.27 per cent to hit a new record intra-day high of 26,011.55. From the 30 Sensex firms, Hindustan Unilever, UltraTech Cement, Kotak Mahindra Bank, IndusInd Bank, Titan, Nestle, Bajaj Finance and Asian Paints were among the biggest laggards.

Tata Steel, Power Grid, Tech Mahindra, HCL Tech, Mahindra & Mahindra and JSW Steel were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the positive territory. Shanghai and Hong Kong markets ended significantly higher.
European markets were trading in the green. The US markets ended higher on Monday.