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.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend