Motilal Oswal Financial Services (MOSL) has reiterated its buy rating on Nippon Life India Asset Management Ltd with a target price of ₹750, implying an upside of around 17.6% from the current market price (CMP) of ₹637.50.
The brokerage noted that Nippon Life’s market share continues to expand. The company’s overall mutual fund QAAUM (Quarterly Average Assets Under Management) grew 29% year-on-year (YoY) to reach ₹5.6 trillion.
Furthermore, NAM’s market share for QAAUM rose 30 basis points (bps) YoY to 8.3%, while its equity market share increased 10 bps YoY to 6.9%.
However, the brokerage pointed out that the SIP book has started to moderate across the industry, largely owing to market volatility.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
