ICICI Securities has given Buy recommendation for Aditya Birla Sun Life AMC recommended buy rating on the stock with a target price of Rs 728 in its research with a target price of Rs. 728 in its research report issued on Jan 09, 2022

ICICI Securities research report on Aditya Birla Sun Life AMC

Aditya Birla Sun Life AMC (ABSLAMC) remains one of the top asset managers of India with a well-entrenched franchise as evident from its ~Rs3trn AUM, >67,000 distributors and presence in 280+ locations across India. The overall AUM/equity AUM share of 7.8%/6.6% and retail AUM share of 6.8% (based on Nov’21 AMFI data) underpin the strong track record of the company. The business strength is complimented by Rs117bn worth of alternate assets (Sep’21) and diversified distribution across 100+ banks, 240+ national distributors and 70+ digital fintech partnerships. Retail folios have clocked 17.4% CAGR between Sep’16 and Sep’21.

Outlook

We initiate coverage with BUY rating and a target price of Rs728 based on 30x FY23/24E core EPS (excluding impact of other income) of Rs19.2/22 and cash of Rs80/92 per share. We ascribe 25:75 weightages to FY23/24 estimates.

More Info on Trent

At 16:00 hrs Aditya Birla Sun Life AMC was quoting at Rs 547.90, up Rs 4.80, or 0.88 percent.

It has touched an intraday high of Rs 549.65 and an intraday low of Rs 532.05.

It was trading with volumes of 30,364 shares, compared to its thirty day average of 29,208 shares, an increase of 3.96 percent.

In the previous trading session, the share closed down 1.73 percent or Rs 9.55 at Rs 543.10.

The share touched its 52-week high Rs 721.00 and 52-week low Rs 499.95 on 11 October, 2021 and 27 December, 2021, respectively.

Currently, it is trading 24.01 percent below its 52-week high and 9.59 percent above its 52-week low.

Market capitalisation stands at Rs 15,779.52 crore.

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