Buy Nippon Life India Asset Management Ltd For Target Rs. 348 - Religare Broking
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Investment Pick - Nippon Life India Asset Management Ltd.
* Nippon Life AMC reported decent set of numbers in Q3FY21 which was largely in-line with our expectations. Its mutual fund QAAUM grew by 6.5% QoQ led by healthy growth in both equity as well as debt AUM which grew by 7.3% and 5.3% QoQ. Further, despite lower yields, PAT grew by 42.7% QoQ driven by higher other income and cost saving initiatives.
* Going forward, we remain positive on Nippon AMC as it plans to regain its lost market share through a series of measures. In the long run, its consistent increase in equity assets, industry leading retail assets and strong presence in B-30 cities augurs well for the growth prospects of the company. Recommend Hold.
Buy Nippon Life India Asset Management Ltd @ 9-12 Months CMP 322.15 TGT 348
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer http://ex.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
Above views are of the author and not of the website kindly read disclaimer
