Highest Ever Rs 11/Share Dividend: Record Date On Friday, June 28; Buy The Large Cap AMC Stock?

As of Friday's closing session, Nippon Life India Asset Management Ltd. has a market valuation of Rs 36,516.14 Cr, making it a large-cap company in the financial services industry. The asset manager of the Nippon India Mutual Fund (NIMF) is Nippon Life India Asset Management Limited (NAM India). Founded on February 24, 1995, under the Companies Act, 1956, Nippon Life India Asset Management Limited (NAM India) is a listed public limited company with its registered office located in Mumbai. The company announced its financial results for the quarter and fiscal year that ended on March 31, 2024, along with the highest dividend payment so far.

Nippon Life India Asset Management Dividend

"The Board has also recommended a final dividend of Rs. 11.00 per Equity Share of Rs. 10/- each for the financial year ended March 31, 2024, for the approval of the shareholders at the ensuing Annual General meeting. With this the total dividend for the financial year 2023-24 would be Rs. 16.50 per Equity share, including the interim dividend of Rs. 5.50 per equity share distributed in November 2023. The record date to determine those shareholders who will be eligible to receive the payment of final dividend, subject to shareholder's approval, will be Friday, June 28, 2024. The payment date for final dividend will be on and from July 16, 2024," said Nippon Life India Asset Management in a regulatory filing.

Nippon Life India Asset Management Q4 Results

As compared to the Rs 198 crore reported in the March 2023 quarter, Nippon Life India Asset Management recorded a consolidated PAT rise of 73.3% year on year (YoY) to Rs 343 crore. Compared to Rs 348 Cr in Q4FY23, the revenue for the quarter under review climbed 34.4% YoY to Rs 468 crore. After reaching Rs 209 crore in the same quarter of the previous fiscal year, consolidated EBITDA surged 39.2% YoY to Rs 291 crore in Q4FY24.

The assets under management of NAM India were valued at Rs 5.24 trillion as of March 31, 2024. The average amount of assets under management at NIMF for the quarter that ended on March 31, 2024, was Rs 4.31 trillion. At Rs 1,335 billion, NIMF has one of the largest retail assets in the industry.

Nippon Life India Asset Management Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "NAM_INDIA is currently trading at 580.10 levels, exhibiting a consistent upward trajectory over the past five weeks. The stock's positive momentum is further underscored by its positioning above key moving averages, including the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMAs. Additionally, the momentum indicator RSI has surged to 67.61 levels, reflecting robust buying interest."

"For investors holding positions from lower levels, maintaining a trailing stop loss at 540 levels, coinciding with the 20 Day EMA, can help safeguard gains and mitigate downside risk. This strategic approach allows investors to capitalize on the stock's upward momentum while actively managing risk. Overall, NAM_INDIA's bullish trend, supported by favorable technical indicators, suggests potential for further upside movement. Investors may consider monitoring price developments closely and adjusting their strategies in line with emerging market dynamics," the analyst further added.

Disclaimer

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