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

Finance, Small Cap

Nippon Life India Asset Mgt. will hold a meeting of the Board of Directors of the Company on 24 October 2024.

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Nippon Life India Asset Management has allotted 7,980 equity shares under ESOP on 25 September 2024. With this allotment, the paid up equity share capital has increased to 63,32,27,966 equity shares of Rs 10 each.

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Consequently, Amol Bilagi was appointed as the interim CFO and KMP of the companywith effect from 4 January 2024. He shall cease to be the interim CFO and KMP with effect from the appointment of Joglekar as the CFO of the company.

However, Bilagi will be designated as deputy CFO effective from 19 September 2024.

Parag Joglekar has over 25 years of experience in the Finance domain and is currently working with Aditya Birla Sun Life AMC as CFO.

NAM India is the asset manager of Nippon India Mutual Fund (NIMF). The company is involved in managing mutual funds including exchange traded funds (ETFs); managed accounts, including portfolio management services (PMS), alternative investment funds and pension funds; and offshore funds and advisory mandates.

The company’s consolidated net profit jumped 40.99% to Rs 332.33 crore on 34.98% rise in total income to Rs 635.76 crore in Q1 FY25 over Q1 FY24.

The scrip rose 1.50% to end at Rs 668.20 on Wednesday 18 September 2024.

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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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