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

Nippon Life India Asset Management Ltd. is a large-cap financial services business as of Friday’s closing session, with a market value of Rs 36,516.14 Cr. Nippon Life India Asset Management Limited (NAM India) is the asset manager of the Nippon India Mutual Fund (NIMF). Nippon Life India Asset Management Limited (NAM India) is a public limited company that was established on February 24, 1995, in accordance with the Companies Act, 1956. Its registered office is situated in Mumbai. Together with the largest dividend payment to date, the corporation revealed its financial results for the quarter and fiscal year that concluded on March 31, 2024.

“For the fiscal year that concluded on March 31, 2024, the Board has also proposed a final dividend of Rs. 11.00 per equity share, or Rs. 10/-per share, for the approval of the shareholders at the next annual general meeting. With this, the interim dividend of Rs. 5.50 per equity share, distributed in November 2023, would be included in the total dividend for the financial year 2023–2024, or Rs. 16.50 per equity share. Friday, June 28, 2024 will be the record date used to identify the shareholders who, if approved by the shareholders, would be entitled to receive the final dividend. July 16, 2024, will be the date of the last dividend payment, according to a regulatory filing by Nippon Life India Asset Management.

Q4 Results for Nippon Life India Asset Management
Nippon Life India Asset Management reported a consolidated PAT increase of 73.3% year over year (YoY) to Rs 343 crore, as opposed to the Rs 198 crore reported in the March 2023 quarter. The revenue for the quarter under review increased 34.4% YoY to Rs 468 crore from Rs 348 Cr in Q4FY23. Consolidated EBITDA increased 39.2% YoY to Rs 291 crore in Q4FY24 from Rs 209 crore in the same quarter of the previous fiscal year.

As of March 31, 2024, the assets under NAM India’s control were estimated to be worth Rs 5.24 trillion. For the quarter that concluded on March 31, 2024, the average amount of assets under control at NIMF was Rs 4.31 trillion. NIMF has one of the biggest retail assets in the sector, valued at Rs 1,335 billion.

Target Share Price for Nippon Life India Asset Management
“NAM_INDIA is currently trading at 580.10 levels, exhibiting a consistent upward trajectory over the past five weeks,” said Choice Broking’s Equity Research Analyst, Deven Mehata. The fact that the stock is positioned above important moving averages, such as the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMAs, emphasizes the upward momentum of the company even more. Furthermore, the RSI momentum indicator has risen to 67.61 levels, indicating strong purchasing activity.

“Trailing stop losses at 540 levels, which correspond with the 20 Day EMA, may assist investors holding positions from lower levels protect profits and reduce downside risk. By carefully controlling risk, this strategic strategy enables investors to profit from the stock’s upward trend. Overall, the bullish trend of NAM_INDIA is bolstered by positive technical indicators, indicating the possibility of more upward rise. The expert went on, “Investors might think about keeping a close eye on price developments and modifying their strategies in accordance with emerging market dynamics.”