Sharekhan's research report on Nippon Life India Asset Management
Strong retail flows led by buoyant equity markets and launch of new/innovative passive schemes is driving strong performance. The company has relatively higher retail investor mix than industry (driven by higher share in AUM from B-30 vs Industry) and steady delivery will likely support the valuation in near to medium term. The company has been consistently gaining market share across segments and the focus remains on increasing mix towards equities & ETF.
Outlook
We maintain a Buy with a revised PT of Rs. 840. At CMP, the stock trades at 34.1x/ 30.5x/ 27.7x its FY2025E / FY2026E/ FY2027 EPS.
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