Sharekhan's research report on Nippon Life India Asset Management
Core revenues grew 43% y-o-y/ 8% q-o-q driven by strong growth in QAAUM (up 54% y-o-y/ 12% q-o-q) partly offset by lower yields. Blended revenue yields were at 42 bps versus 45 bps y-o-y.Core PBT grew by 60% y-o-y/ 9% q-o-q. Overall market share rose by 24 bps q-o-q in QAAUM to 8.2%. Equity market share (ex-ETFs) also rose 12 bps q-o-q to 6.86%. SIP flows rose by 7.5% q-o-q and market share improved to ~11% vs ~8% y-o-y.
Outlook
We maintain a Buy with a revised PT of Rs. 750. At CMP, the stock trades at 30.8x/ 27.6x its FY2025E / FY2026E EPS.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Nippon Life India Asset Management_23072024_Sharekhan