Buy RNAM, target Rs 300: CLSA
Buy Reliance Nippon Life Asset Management at a price target of Rs 300.
Reliance Nippon Life Asset Management Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 16246.53 Crore) operating in Financial Services sector.
Reliance Nippon Life Asset Management Ltd. key Products/Revenue Segments include Investment Management & Advisory Fees which contributed Rs 1376.29 Crore to Sales Value (97.24 % of Total Sales) and Income From Portfolio Management Services which contributed Rs 38.97 Crore to Sales Value (2.75 % of Total Sales)for the year ending 31-Mar-2019.
For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 325.11 Crore, down -5.28 % from last quarter Sales of Rs 343.22 Crore and down -17.48 % from last year same quarter Sales of Rs 394.00 Crore Company has reported net profit after tax of Rs 125.60 Crore in latest quarter. The company’s top management includes GeneralVed Prakash Malik, Mr.Akira Shibata, Mr.Mahadevan Veeramony, Mr.Minoru Kimura, Mr.Sundeep Sikka, Ms.Ameeta Chatterjee. Company has S R Batliboi & Co. LLP as its auditoRs As on 30-06-2019, the company has a total of 612,000,000 shares outstanding.