Nippon Life Company

Motilal Oswal Financial Services initiated coverage on NAM India with a BUY rating and a one-year target price of Rs 900.

The transactions were registered with the inspector general of registration (IGR) on November 21

Shares of Nippon Life AMC surged up to 6.38 per cent, at Rs 675.05 per share on the BSE in Monday's intraday deals.

Robust performance buoyed by soaring AUM and stellar equity performance

Shares of the company closed at Rs 586, with a gain of Rs 24, or 4.3 per cent

Nippon Life India Asset Management Ltd on Wednesday reported its highest-ever quarterly profit after tax (PAT) at Rs 343 crore for the March quarter, marking a 73 per cent jump from the year-ago period. The company had posted a PAT of Rs 198 crore in the year-ago period, the asset management firm said in a stock exchange filing. Total income rose to Rs 560.57 crore during the fourth quarter of FY24 from Rs 388.03 crore in the year-ago period. Reacting to the strong quarterly performance, shares of Nippon Life India Asset Management surged 11 per cent to hit their 52-week high at Rs 623.40 in the intra-day trade on the BSE. Also, the company's board has recommended a final dividend of Rs 11 per equity share for the financial year ended March 31, 2024. With this, the total dividend for 2023-24 will be Rs 16.50 per share, including the interim dividend of Rs 5.50 apiece distributed in November 2023. Nippon Life India Asset Management is the asset manager of Nippon India Mutual Fund.

Compared to the second quarter, the profit is up 16 per cent, while the revenue from operations has risen 6.5 per cent

According to reports, IndusInd Bank was seeking to divest 2.86 per cent stake in Nippon AMC

The investment objective of the scheme is to generate capital appreciation from a portfolio predominantly invested in equity and equity-related instruments

Among individual stocks, HDFC AMC was locked at the temporary 10 per cent upper limit; Nippon Life India AMC surged 11 per cent in Friday's intra-day trade.

Revenues from operations rose 3 per cent during the quarter to Rs 348 crore

Total income rises 5% to Rs 416 crore

By chasing profit over rapid expansion, companies have conserved capital, making them attractive for potential buyers

Final bids for Reliance Capital expected on Monday

Sources say Nippon Life of Japan not keen on diluting its holding in Reliance Nippon Life Insurance Company to less than 10%--something that the merger will bring about

AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra

Reliance Capital is undergoing a bankruptcy process and the administrator had sought offers for the entire company and for its various business clusters

The fund house has suspended lump-sum subscription, switch-ins, and fresh registration of systematic investment plan/systematic transfer plan under five schemes that invest in international stocks

In comparison, the company had a profit after tax (PAT) of Rs 166.77 crore in the same quarter preceding fiscal, NAM India said in a regulatory filing to stock exchanges

The firm's AUM stood at Rs 3.45 trillion as on March 21, 2022; Nippon India Mutual Fund's overall AUM market share rose to 7.38% in Q4