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NAM-INDIA Consensus Forecast

No. of reports in last year
12
No. of analysts
6
Average Consensus Forecast
341.25
Consensus Potential
11.04%

NAM-INDIA Price Target Potential

BrokerageTargetPotential
Axis Direct266-10.75%
Nirmal Bang259-13.75%
HDFC Securities288-2.29%
Rudra Shares & Stocks Brokers270-9.11%
ICICIdirect.com40527.26%

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NAM-INDIA Ratings

Long term NAM-INDIA rating by FrontPage users
4.7/5 (3 Ratings)

12 NAM-INDIA share price target reports by brokerages below. See what is analyst's view on NAM-INDIA share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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NAM-INDIA Share Price Target

NAM-INDIA Share Price Target - Broker Reports - 2020

18-May-20
Price @ Call: 231.03
Target: 266
HOLD
The current economic slowdown will impact future inflows and revenue generation for NAM. Revenue yields are expected to be impacted amid declining AUMs, which in turn, would impact profitability. Loss of investor confidence, flight to safety due to recent industry developments could weigh on the stock. However, cost levers are in control. Post ownership change NAM stands to benefit from increased credibility to raise capital. We cut our earnings estimate by 7/11% for FY21/22E and retain Hold with TP of Rs 266 (30x Mar22E EPS).
... Read more
18-May-20
Price @ Call: 231.03
Target: 259
ACCUMULATE
For FY21, we expect core revenue/earnings from the AMC business to decline on account of weak outlook for capital markets and the consequent impact on AUM growth. However, given that the base (FY20) has been impacted by a large MTM loss of ~Rs1.5bn, we expect PAT growth to be higher. Even as the forthcoming economic headwinds and the likely volatility in the equity markets impair our ability to forecast AUM growth, we remain sanguine about the prospects of the Indian AMC industry given the low penetration levels vis-àvis developed countries, low degree of financial literacy and concentration of savings in physical assets. However, on account of the forthcoming economic headwinds and the likely volatility in the equity markets, we downgrade the stock to ACCUMULATE. We have revised our estimates for FY21/FY22 and our target price to Rs259 (from Rs327 earlier), valuing the stock at 26.0xFY22E P/E
... Read more
16-May-20
Price @ Call: 243.18
Target: 288
BUY
Strong core despite market share loss! NAM printed 4QFY20 operating profits of Rs 1.52bn (+9.4/11.9% YoY/QoQ, 18.1% beat). Beat was primarily driven by lower expenses (-44.1/-27.7% YoY/QoQ). Large MTM loss (due to sharp correction on investments in equity AUM) on investment book resulted in negative other income of Rs 1.25bn and caused APAT to decline to just Rs 37mn (-97.3/-97.5% YoY/QoQ). We retain BUY with a TP of Rs 288 (36x Mar-22E NOLPAT + cash) Revenue at Rs 2.75bn declined 20.0%/9.4% YoY/QoQ
... Read more
4-May-20
Price @ Call: 236.78
Target: 270
BUY
27-Jan-20
Price @ Call: 359.75
Target: 405
BUY
Reliance Nippon Asset Management (RNAM) is the fifth largest AMC in India, with AUM market share of 8.3% as of FY19. Strategic focus on retail segment (40% of AUM) via presence in B30 cities through a widespread distribution network of IFAs to enable sustain healthy growth ahead. We expect AUM to grow at ~9% CAGR in FY19-22E to Rs 296355 crore. Improving share of retail equity flows & gradual revival in debt & liquid flows, along with tax cuts could improve profitability. Accordingly, we expect PAT to grow at ~16% CAGR in FY19-22E to Rs 743 crore, translating to an average RoE of 23.9%. Buyout of old promoter’s stake by Nippon Life has removed substantial overhang and aiding better flows. Thereby rolling over to FY22, we upgrade our target price of Rs 300 to Rs 405 per share with a BUY rating on the stock.
... Read more
27-Jan-20
Price @ Call: 359.75
Target: 405
BUY
Reliance Nippon Asset Management (RNAM) is the fifth largest AMC in India, with AUM market share of 8.3% as of FY19. Strategic focus on retail segment (40% of AUM) via presence in B30 cities through a widespread distribution network of IFAs to enable sustain healthy growth ahead. We expect AUM to grow at ~9% CAGR in FY19-22E to | 296355 crore. Improving share of retail equity flows & gradual revival in debt & liquid flows, along with tax cuts could improve profitability. Accordingly, we expect PAT to grow at ~16% CAGR in FY19-22E to | 743 crore, translating to an average RoE of 23.9%. Buyout of old promoter’s stake by Nippon Life has removed substantial overhang and aiding better flows. Thereby rolling over to FY22, we upgrade our target price of Rs 300 to Rs 405 per share with a BUY rating on the stock.
... Read more
27-Jan-20
Price @ Call: 359.75
Target: 405
BUY
Reliance Nippon Asset Management (RNAM) is the fifth largest AMC in India, with AUM market share of 8.3% as of FY19. Strategic focus on retail segment (40% of AUM) via presence in B30 cities through a widespread distribution network of IFAs to enable sustain healthy growth ahead. We expect AUM to grow at ~9% CAGR in FY19-22E to Rs 296355 crore. Improving share of retail equity flows & gradual revival in debt & liquid flows, along with tax cuts could improve profitability. Accordingly, we expect PAT to grow at ~16% CAGR in FY19-22E to Rs 743 crore, translating to an average RoE of 23.9%. Buyout of old promoter’s stake by Nippon Life has removed substantial overhang and aiding better flows. Thereby rolling over to FY22, we upgrade our target price of Rs 300 to Rs 405 per share with a BUY rating on the stock.
... Read more
27-Jan-20
Price @ Call: 359.75
Target: 405
BUY
Reliance Nippon Asset Management (RNAM) is the fifth largest AMC in India, with AUM market share of 8.3% as of FY19. Strategic focus on retail segment (40% of AUM) via presence in B30 cities through a widespread distribution network of IFAs to enable sustain healthy growth ahead. We expect AUM to grow at ~9% CAGR in FY19-22E to Rs 296355 crore. Improving share of retail equity flows & gradual revival in debt & liquid flows, along with tax cuts could improve profitability. Accordingly, we expect PAT to grow at ~16% CAGR in FY19-22E to Rs 743 crore, translating to an average RoE of 23.9%. Buyout of old promoter’s stake by Nippon Life has removed substantial overhang and aiding better flows. Thereby rolling over to FY22, we upgrade our target price of Rs 300 to Rs 405 per share with a BUY rating on the stock.
... Read more
24-Jan-20
Price @ Call: 356.61
Target: 380
ACCUMULATE
We have revised our MF AUM estimates by -8.9%/-8.9%/-8.9%, Net Revenue estimates by -4.7%/-8.9%/-9.0%, EBITDA estimates by 6.2%/2.0%/0.8% and PAT estimates by 11.0%/5.0%/3.4% for FY20/FY21/FY22, respectively. We have retained Accumulate rating on NAM, valuing the stock at 32.0x H1FY22E P/E and revising our target price to Rs380 (from Rs370 earlier).
... Read more

NAM-INDIA Share Price Target - Broker Reports - 2019

20-Nov-19
Price @ Call: 364.78
Target: 370
ACCUMULATE
We keep our MF AUM growth estimates unchanged at +1%/+12%/+15% for FY20/21/22E. Our thesis is that post arresting and reversing some of the decline in the liquid and other debt funds in H2FY20, the AUM growth should normalize to 12-15% from FY21 onwards. Also, we are building in an increasing share of equity-oriented schemes, which is higher margin and hence more profitable. We retain our revenue estimates but marginally tweak our expense assumptions for FY22E. As a result, our FY22E PAT is revised upwards by ~1% to Rs7.69bn. From a stock investment perspective, we retain our ACCUMULATE rating, valuing the stock at Rs370, based on 32x Sept-21E EPS.
... Read more
25-Oct-19
Price @ Call: 320.51
Target: 323
BUY
Reliance Nippon Life Asset Management Limited (RNAM) reported its 2QFY20 results with the key pointers being: (1) Institutional and HNI businesses continue to be of concern, retail continues strong (2) Share of equity increases 100 bps QoQ to 43%. (See comprehensive conference call takeaways on page 2 for significant incremental colour). Per se, on the key financials, RNAM posted MF AUM decline of 16% YoY at Rs1,886bn, Net revenue decline of 23% YoY at Rs3,002mn, EBITDA growth of 4% at Rs1,435mn and PAT growth of 21% YoY at Rs1,367mn. We have revised our estimates for FY20/FY21/FY22 and retained Accumulate rating on RNAM, revising our target price to Rs323 (from Rs281 earlier), valuing the stock at 28.0x H1FY22E P/E.
... Read more
17-Oct-19
Price @ Call: 271.06
Target: 319
BUY
28-May-19
Price @ Call: 222.95
Target: 238
HOLD
Cost control shown in Q4FY19 is encouraging and if continued will help sustaining margins. Additionally, the exit of ADAG as promoter on stake sale to Nippon Life is a positive, which we believe will aid fund raising from HNIs and institutions. With the normalization of revenues and opex recognition as per the new SEBI norms, we expect margins to be maintained and yields to be stable. However, overhang from redemption risk lingers. We are factoring in ~11% AUM growth for FY20/21E. We recommend Hold with a revised target price of Rs238, at 25x FY21E EPS.
... Read more
3-May-19
Price @ Call: 194.09
Target: 254
BUY
Led by a 47.1/25.6% YoY/QoQ drop in other expenses RNAM reported an EBITDA of Rs 1.14bn (+4.5/19.7% YoY/QoQ) and 17.7% above our estimates. We expect exit of ADAG to positively impact both performance. We value RNAM at 26x on its FY21E NOPLAT + value of investments to arrive at TP of Rs 254 (+29.7%) i.e. 5.5% of FY21E AUM.
... Read more
19-Feb-19
Price @ Call: 155
Target: 192
BUY
Under the new compensation structure for distributors, management expects to share 50-70% of the TER with distributors. We revise earnings estimates lower for RNAM for FY19 / FY20E, as we build in the impact of TER cut and AUM growth estimates. Maintain BUY valuing RNAM at 22x FY20E EPS to arrive at our Target Price of Rs 192.
... Read more
23-Jan-19
Price @ Call: 150.31
Target: 200
BUY
3-Jan-19
Price @ Call: 157.51
Target: 227
BUY

NAM-INDIA Share Price Target - Broker Reports - 2018

19-Nov-18
Price @ Call: 169.15
Target: 214
BUY
26-Sep-18
Price @ Call: 180.5
Target: 258
BUY
10-Aug-18
Price @ Call: 240
Target: 330
BUY
27-Apr-18
Price @ Call: 254.32
Target: 330
BUY
23-Feb-18
Price @ Call: 276.29
Target: 356
BUY
18-Jan-18
Price @ Call: 309.9
Target: 350
BUY
9-Jan-18
Price @ Call: 294.27
Target: 350
BUY
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  • NAM-INDIA Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3299.28
    Upside Target 2296.62
    Upside Target 1293.43
    Pivot290.77
    Downside Target 1287.58
    Downside Target 2284.92
    Downside Target 3281.73
  • NAM-INDIA Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3342.37
    Upside Target 2331.08
    Upside Target 1310.67
    Pivot299.38
    Downside Target 1278.97
    Downside Target 2267.68
    Downside Target 3247.27
  • NAM-INDIA Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3404.37
    Upside Target 2363.18
    Upside Target 1338.77
    Pivot297.58
    Downside Target 1273.17
    Downside Target 2231.98
    Downside Target 3207.57
  • NAM-INDIA Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3296.62
    Upside Target 2294.38
    Upside Target 1293
    Pivot290.77
    Downside Target 1288.53
    Downside Target 2287.15
    Downside Target 3284.92
  • NAM-INDIA Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3331.08
    Upside Target 2318.97
    Upside Target 1311.49
    Pivot299.38
    Downside Target 1287.27
    Downside Target 2279.79
    Downside Target 3267.68
  • NAM-INDIA Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3363.18
    Upside Target 2338.12
    Upside Target 1322.64
    Pivot297.58
    Downside Target 1272.52
    Downside Target 2257.04
    Downside Target 3231.98
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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