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Buy Nippon Life India Asset Management; target of Rs 350: Sharekhan

Sharekhan is bullish on Nippon Life India Asset Management has recommended buy rating on the stock with a target price of Rs 350 in its research report dated January 27, 2021.

January 29, 2021 / 07:12 PM IST
 
 
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Sharekhan's research report on Nippon Life India Asset Management

Nippon Life India Asset Management Limited’s (NAM’s) Q2FY2021 results were better than expectations, helped by cost control and healthy increase in Assets Under Management (AUMs). The AUM stood at Rs. 352360 crores saw an enthusiastic growth both on y-o-y and q-o-q basis.; Theshare of Equity Assets rose to 39.1% of NIMF’s AUM which is positive. Indian AMC industry continues to be attractive with long term structural tail-winds intact; We have fine-tuned our estimates and believe that the improvement in AUM traction is a positive trend.

Outlook

We maintain our Buy rating on the stock with an revised price target (PT) of Rs. 350.