Nippon Life India Asset Management reported a net profit of ₹384.72 crore, up 28.8 per cent from ₹298.60 crore in the year-ago period
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Analysts have been positive on asset management space, considering the levers of stable systematic investments and a better yield outlook.
Buying interest in AMC stocks was bolstered after data from the Association of Mutual Funds in India (Amfi) showed that equity mutual fund inflows jumped 56 per cent M-o-M to ₹40,450 crore in March.
However, at current levels, MOFSL, CDSL, KFIN Technologies, Nuvama Wealth Management, CAMS and Angel One quote up to 26 to 36 per cent lower when compared to their respective 52-week highs.
Equity mutual funds attracted net inflows of ₹25,978 crore in February, marking an 8 per cent rise from the previous month amid the India-US trade deal.
Nifty outlook for Feb 12: Index consolidates near 25,950 amid mixed sectoral trends. Ajit Mishra recommends Glenmark Pharma, Nippon Life and TVS Motor as stocks to buy today.
Antique Broking expects Nippon Life to sustain industry-leading average AUM growth and deliver healthy earnings compounding
Analysts have been positive on AMC space, considering the levers of stable systematic investments and a better yield outlook now led by the passage of recent regulations on total expense ratio (TER).