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Centrum Broking Report
Nippon Life India Asset Management Company Ltd.'s earnings were a beat led by other income.
Core operating profit rose by 8.0% QoQ as revenue improved driven by a 6.3% QoQ rise in quarterly average asset under management. Other income was higher at Rs 1304 million, largely led by mark-to-market on equity investments.
Leveraging on the Nippon brand, lost market share has been regained in debt and liquid funds and it has added an average 260 plus institutional customers since March 2020.
Yields are likely to moderate in equity by 2-3 basis points while current debt yields are lower inflow in short term funds.
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