HDFC AMC, Nippon Life India's Target Prices Cut By HSBC Amid SIP Pull-Out

HSBC Global Research has cut the target prices of HDFC Asset Management Co. and Nippon Life India Asset Management Ltd. as growth outlook has weakened for such companies due to rising discontinuation of Systematic Investment Plans. The brokerage is cautious on asset management industry due to lack of near-term triggers.For Nippon Life India, it has also downgraded the rating to 'hold'.It cut HDFC Asset Management's target price to Rs...