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Last Updated : May 19, 2020 11:04 AM IST | Source:

Buy Nippon Life India Asset Management; target of Rs 288: HDFC Securities

HDFC Securities is bullish on Nippon Life India Asset Management has recommended buy rating on the stock with a target price of Rs 288 in its research report dated May 16, 2020.

Broker Research @moneycontrolcom
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HDFC Securities' research report on Nippon Life India Asset Management

NAM printed 4QFY20 operating profits of Rs 1.52bn (+9.4/11.9% YoY/QoQ, 18.1% beat). Beat was primarily driven by lower expenses (-44.1/-27.7% YoY/QoQ). Large MTM loss (due to sharp correction on investments in equity AUM) on investment book resulted in negative other income of Rs 1.25bn and caused APAT to decline to just Rs 37mn (-97.3/-97.5% YoY/QoQ).


We retain BUY with a TP of Rs 288 (36x Mar-22E NOLPAT + cash).

For all recommendations report, click here

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First Published on May 19, 2020 11:04 am
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