Buy Nippon Life India AMC; target of Rs 330: ICICI Direct

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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 3.31 lakh crore. The company has a strong distribution network with 85500+ distributors. Market share as on Q1FY23 was at 7.4% • Strong presence in B-30 cities that contribute to 17.8% of total AUM.

Outlook

We maintain BUY rating on the stock. We value Nippon AMC at ~5.6% FY24E AUM and revise our target price from Rs 400 to Rs 330 per share.

For all recommendations report, click here

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Nippon Life India AMC -010822 - ic