Nippon Life India AMC Shares Gain 3% After Nomura and Jefferies Say 'Buy'; HSBC Remains Cautious
Key Takeaways
- •Nomura and Jefferies issued buy ratings on NAM AMC, contributing to a 3% rise in the company's shares.
- •HSBC adopted a cautious view on Nippon Life India AMC despite the positive recommendations from other brokerages.
- •Of the 26 analysts covering the stock, 20 rate it a buy, five a hold, and one a sell.
- •The consensus 12-month target price is ₹1,256.92, implying about 7% upside from Monday's closing price.
Shares of Nippon Life India Asset Management Company (NAM AMC) rose 3% after Nomura and Jefferies issued "buy" recommendations on the stock, while HSBC adopted a more cautious stance on the asset manager.
NAM AMC is one of India's largest asset management companies and manages a broad suite of mutual fund products. Shares of asset managers tend to be sensitive to brokerage views because their earnings are closely tied to market-linked assets under management and fund flows.
The stock is covered by 26 analysts, of whom 20 have a "buy" rating, five rate it a "hold", and one carries a "sell" rating. The consensus 12-month target price stands at ₹1,256.92, implying an upside of around 7% from Monday's closing price.
HSBC on NAM AMC
HSBC has taken a cautious view on Nippon Life India AMC.
Nomura on NAM AMC
Nomura has recommended buying the stock.
Jefferies on NAM AMC
Jefferies has likewise issued a "buy" rating on NAM AMC.
Source: CNBC-TV18
