Aditya Birla Sun Life AMC is a tactical choice this week

Aditya Birla Sun Life AMC is a tactical choice this week

Aditya Birla Sun Life AMC Ltd. got a buy call from ICICI Securities with a target price of Rs 728. Aditya Birla Sun Life AMC’s current market price is Rs 543.7. Aditya Birla Sun Life AMC Ltd. pricing can reach defined objective in one year, according to expert. Aditya Birla Sun Life AMC Ltd., founded in 1994, is a Small Cap business in the Financial Services industry with a market cap of Rs 15649.92 crore. Fees & Commission Income and Income From Sale Of Shares & Securities are two of Aditya Birla Sun Life AMC Ltd.’s primary products/revenue segments for the year ending 31-Mar-2020.

For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 364.60 Crore, up 11.08 % from last quarter Total Income of Rs 328.23 Crore and up 27.43 % from last year same quarter Total Income of Rs 286.12 Crore. Company reported net profit after tax of Rs 170.03 Crore in latest quarter. The business strength is complimented by Rs117bn worth of alternate assets (Sep’21) and diversified distribution across 100+ banks, 240+ national distributors and 70+ digital fintech partnerships. Retail folios have clocked 17.4% CAGR between Sep’16 and Sep’21. The brokerage initiates coverage with BUY rating and a target price of Rs728 based on 30x FY23/24E core EPS (excluding impact of other income) of Rs19.2/22 and cash of Rs80/92 per share. Promoters held 86.5 per cent stake in the company as of 07-Oct-2021, while FIIs owned 2.98 per cent, DIIs 3.4 per cent.

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