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Buy Nippon Life India AMC; target of Rs 450: YES Securities

YES Securities is bullish on Nippon Life India AMC has recommended buy rating on the stock with a target price of Rs 450 in its research report date April 26, 2022.

April 27, 2022 / 02:31 PM IST
 
 
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YES Securities' research report on Nippon Life India AMC


The sharp decline in yield in the month of March was a transient phenomenon related to compliance aspects: These expenses have been resurrected back in the first week of April itself. There has been dip in management fees but not in TER realization. On an overall basis, revenue realization stands at 49 bps vs 52 bps a year ago. Structurally, management averred that most of the “old” assets that had to flow out have done so.


Outlook


We maintain ‘BUY’ rating on NAM with an unchanged price target of Rs 450: We value NAM at 29.0x FY23 P/E for an FY21-24E EPS CAGR of 20.1%.


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first published: Apr 27, 2022 02:31 pm
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