Nippon Life India Asset Management Ltd Share Price – NSE  / BSE

Finance, Small Cap

Nippon India Mutual Fund announced on 11 September 2024 the launch of ‘Nippon India Nifty 500 Momentum 50 Index Fund', an open-ended scheme replicating/tracking Nifty 500 Momentum 50 Index.

The fund is a passively managed index fund which will employ an investment approach designed to track the performance of Nifty 500 Momentum 50 TRI. The fund is designed to provide investors with a diversified and efficient way to participate in the Indian equity market by investing in the underlying securities of the Nifty 500 Momentum 50 Index in the same proportion. The fund seeks to capitalize on the performance of stocks that have exhibited relatively strong momentum in the recent past.

The NFO opens on 11 September 2024, and closes on 25 September 2024.

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Nippon Life India Asset Management has allotted 3,13,707 equity shares under ESOP on 10 September 2024. With this allotment, the paid up equity share capital has increased to 63,32,19,986 equity shares of Rs 10 each.

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Nippon Life India Asset Management has allotted 10,16,915 equity shares under ESOP on 09 August 2024. With this allotment, the paid up equity share capital has increased to 63,27,80,463 equity shares of Rs 10 each.

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The equity benchmarks pared early losses and traded with minor gains in morning trade. The Nifty traded above the 24,550 mark. Pharma shares advanced after declining in the past trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was up 118.43 points or 0.14% to 80,715.34. The Nifty 50 index rose 37.30 points or 0.15% to 24,564.80.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index added 1.03% and the S&P BSE Small-Cap index gained 0.80%.

The market breadth was positive. On the BSE, 2,299 shares rose and 1,377 shares fell. A total of 193 shares were unchanged.

Result today:

Coforge (up 0.52%), Cyient DLM (up 2.08%), Dodla Dairy (up 2.84% ), Greenlam Industries (down 0.84% ), IDBI Bank (up 1.38%), Indian Overseas Bank (up 0.64% ), Mahindra Logistics (up 1.45%), Maharashtra Scooters (up 0.34%), Mangalore Refinery & Petrochemicals (up 1.60%), Poly Medicure (up 2.13%), Supreme Industries (up 0.60%), Suzlon Energy (up 0.73%), UCO Bank (up 0.29%), Zensar Technologies (up 0.67% ) and ZF Commercial Vehicle Control System India (down 0.44%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Pharma index rose 0.96% to 20,319.70. The index shed 1.65% in the past trading sessions.

Torrent Pharmaceuticals (up 2.21%), Granules India (up 1.84%), Natco Pharma (up 1.49%), J B Chemicals & Pharmaceuticals (up 1.31%), Lupin (up 1.31%), Alkem Laboratories (up 1.25%), Zydus Lifesciences (up 1.19%), Dr Reddys Laboratories (up 1.06%), Ipca Laboratories (up 1.06%) and Sanofi India (up 0.79%) edged higher.

On the other hand, Mankind Pharma (down 0.57%), Abbott India (down 0.45%) and Glenmark Pharmaceuticals (down 0.21%) declined.

Stocks in Spotlight:

Nippon Life India Asset Management rallied 4.24% after the company’s consolidated net profit jumped 40.99% to Rs 332.33 crore in Q1 FY25 as compared with Rs 235.72 crore posted in Q1 FY24. Total income climbed 34.98% year on year (YoY) to Rs 635.76 crore in the quarter ended June 2024.

Oberoi Realty advanced 4.05% after the real estate developer’s consolidated net profit surged 81.73% to Rs 584.51 crore in Q1 FY25 as against Rs 321.64 crore posted in Q1 FY24. Revenue from operations climbed 54.42% to Rs 1405.16 crore in Q1 FY25 as compared to Rs 909.97 crore recorded in the corresponding quarter last year.

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