Buy Nippon Life India Asset Management, target price Rs 350: HDFC Securities

HDFC Securities has buy call on Nippon Life India Asset Management with a target price of Rs 350.0. The current market price of Nippon Life India Asset Management is Rs 204.75.

Nippon Life India Asset Management, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 12727.89 Crore) operating in Financial Services sector.

Nippon Life India Asset Management key Products/Revenue Segments include Investment Management & Advisory Fees and Income From Portfolio Management Services for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 415.74 Crore, up .55 % from last quarter Total Income of Rs 413.47 Crore and up 12.69 % from last year same quarter Total Income of Rs 368.93 Crore. Company has reported net profit after tax of Rs 204.81 Crore in latest quarter.

The company’s top management includes Mr.Sundeep Sikka, Ms.Ameeta Chatterjee, Maj.Gen.(Retd.)Ved Prakash Malik, Mr.Ashvin Parekh, Mr.B Sriram, Mr.Akira Shibata, Mr.Tomohiro Yao, Mr.Minoru Kimura. Company has S R Batliboi & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 62 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of December 2022, while FIIs owned 0 per cent, DIIs 0 per cent.