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Last Updated : May 18, 2020 05:00 PM IST | Source:

Buy Nippon Life India AMC; target of Rs 300: ICICI Direct

ICICI Direct is bullish on Nippon Life India AMC has recommended buy rating on the stock with a target price of Rs 300 in its research report dated May 18, 2020.

Broker Research @moneycontrolcom
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ICICI Direct's research report on Nippon Life India AMC

Nippon Life India AMC (Nippon) reported weak earnings, primarily led by MTM losses on investments. Regressive AUM growth, amid Covid-19, kept the topline under pressure with the outlook being a bit uncertain. Industry AUM declined to Rs 22.3 lakh crore as of March 2020 vs. Rs 26.5 lakh crore as of December 2019. Equity segment saw a decline of ~24% QoQ to Rs 8.3 lakh crore, led by a correction in markets. Debt, liquid schemes saw ~7%, ~11% QoQ, respectively, decline in AUM due to outflows in the quarter. SIP flows continued to remain consistent at Rs 8600 crore in Q4FY20.


Near term outlook remains volatile. However, given elevated economic uncertainty, business model without large credit risk remain preferred. Therefore, we have a BUY rating on the stock with a target price of Rs 300/share.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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First Published on May 18, 2020 05:00 pm
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