External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Nippon Life India Asset Management / Equity Bottom-Up

Nippon Life India Asset Management (NAM IN)

<ul><li>NAM Q3FY22 earnings performance was moderate with revenues lagging AUM growth due to pressure on equity yields</li><li>Yields came under pressure due to portfolio churn, increased competition, and TER regulations</li><li>On sustained cost controls and improved outlook, we maintain our BUY rating with a target price of Rs 440 (30x FY23E EPS)</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

NAM Q3FY22 earnings performance was moderate with revenues lagging AUM growth due to pressure on equity yieldsYields came under pressure due to portfolio churn, increased competition, and TER regulationsOn sustained cost controls and improved outlook, we maintain our BUY rating with a target price of Rs 440 (30x FY23E EPS)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Nippon Life India AMC: Moderate Performance; Maintain BUY