Buy Aditya Birla Capital, target Rs 230: Angel Broking

Angel Broking has a buy call on Aditya Birla Capital with a target price of Rs 230.
The current market price of Aditya Birla Capital is Rs 153.50.
Time period given by the brokerage firm is one year when Aditya Birla Capital price can reach defined target.
Aditya Birla Capital (ABCL) is one of the most diversified financial services entities, with a presence in non-bank financing, asset management, housing finance, insurance and advisory businesses.
ABFL (NBFC) business contributes highest value in our SOTP valuation.
It has recorded a strong CAGR of 60 per cent over FY12-17.
Despite aggressive growth in lending and migration to 90dpd for NPA recognition, GNPA has remained at nearly 1 per cent.
We believe ABFL would be able to continue to grow at 30 per cent CAGR over FY17-FY19.
We expect financialization of savings, increasing penetration in Insurance & Mutual funds would ensure steady growth.
Further, Banca tie-up with HDFC Bank, DBS and LVB should restore insurance business.