Nomura initiated coverage on HDFC AMC, Nippon Asset Management, and UTI AMC with buy and neutral ratings, respectively. Target prices were set at Rs 5,000, Rs 785, and Rs 1,300, respectively. Nomura expects Indian AMCs to maintain their valuation premium due to higher growth potential and better profitability.
Geopolitical winds set to sweeten India’s apple harvest
India’s apple imports are facing disruption. Geopolitics are influencing prices this harvest season. Traders are avoiding Turkish apples due to political tensions. The Attari-Wagah border