ICICI Direct has given Buy recommendation for Nippon Life India AMC with a target price of Rs. 1970 in its research report issued on Nov 08, 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 4.01 lakh crore. The company has a strong distribution network with ~82000 distributors. Market share as on Q2FY22 was at 7.3% Strong presence in B-30 cities that contribute to ~18% of total AUM
We maintain BUY rating on the stock We value Nippon AMC at ~9.5% FY23E AUM and revise our target price to rS 485 per share.