Buy CAMS Ltd For Target Rs. 4,500 by Motilal Oswal Financial Services Ltd

* AUM to dip, led by MTM hit on MFs and weak net flows.
* Non-MF business revenue traction to remain strong
* With high share of fixed costs, profitability to dip QoQ.
* Outlook on non-MF business growth and yields on MF business would be vital.
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