ICICI Direct's research report on Nippon Life India AMC
Nippon Life India AMC is among the largest asset managers in India with an AUM size of Rs 3.63 lakh crore. The company has a strong distribution network with 91000+ distributors. Market share as on Q4FY23 was at 7.2% • Strong presence in B-30 cities that contribute to 19% of total AUM.
Outlook
We maintain our HOLD rating on the stock. Thus, we value Nippon AMC at ~4.7% FY25E AUM and revise our target price from Rs 300 to Rs 270 per share.
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