Emkay Global has given a hold rating to Nippon Life with a target price of Rs 282. The share price moved down by 0.20 per cent from its previous close of Rs 273.40. The stock’s last traded price is Rs 272.85.

Nippon Life India Asset Management Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 16735.79 Crore) operating in Financial Services sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 258.66 Crore, up 10.96 % from last quarter Sales of Rs 233.12 Crore and down 13.85 % from last year same quarter Sales of Rs 300.23 Crore Company has reported net profit after tax of Rs 145.23 Crore in latest quarter.


Investment Rationale
Though the brokerage has trimmed estimates a bit, it maintains Hold rating with a revised TP of Rs282 (Rs280 earlier), corresponding to 24x P/Mar’23E EPS. It maintains EW stance on the name in NBFC EAP. Key risk to the call is another sell off in the market impacting AUMs negatively

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of Sept 30, 2020, while FIIs held 5.1 per cent, DIIs 6.3 per cent and public and others 13.6 per cent.

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