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Nippon Life India Asset Management falls after quarterly profit declines

By Reuters News

** Shares of Nippon Life India Asset Management NIPF.NS fall 6.6% to 911.70 rupees

** Asset management co reports September-quarter consolidated net profit declines 6.1% Y/Y, and revenue rose 21% Y/Y

** JPMorgan retains "overweight" but cuts price target to 1,250 rupees from 1,370 rupees; trims FY27/FY28 EPS estimates by 4.2%/3.9%

** ICICI Securities maintains "add", cuts target price to 1,065 rupees from 1,170 rupees, citing lower earnings growth outlook from near-term AUM growth overhang and higher costs

** Stock rated "buy" on average by 24 analysts; median PT is 1,190 rupees - LSEG-compiled data

** Stock up 3.6% YTD

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