ICICI Direct has given Buy recommendation for Nippon Life India AMC with a target price of Rs. 480 in its research report issued on Jul 12, 2021
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 3.79 lakh crore. The company has a strong distribution network with ~80000 distributors.Market share as on Q1FY22 was at 7.2% Strong presence in B-30 cities that contribute to ~19% of total AUM
We upgrade the stock from HOLD to BUY recommendation We value Nippon AMC at ~38x FY23 EPS to arrive at a revised target price of Rs 480 per share from Rs 360 earlier.