MAXF
from 1,512 today
We raise our VNB margin estimates by 50bp/100bp for FY27/28 considering the strong performance in 1QFY27 and expect APE to sustain the ~16% growth trajectory. We reiterate our BUY rating on the stock with a TP of INR1,860, premised on 2x FY28E EV.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
