Recommendation: Add; Target Price: Rs 860
Analysts at IIFL Capital Services estimate the listed AMCs (except UTI AMC) to see 20-28 basis points cut in Equity TER leading to 30-35% earnings cut (assuming 100% is absorbed by AMCs).
Profitability to remain strong as compared to the year-ago quarter.
Recommendation: Buy; Target Price: Rs 80
Recommendation: Buy; Target Price: Rs 510
Recommendation: Add; Target Price: Rs 3675
Lower prices of oil, higher gas prices to aid performance.
Healthy, all-round show expected from the company.

IIFL Customer Care Number
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1860-267-3000 / 7039-050-000
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+91 9892691696
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ARN NO : 47791 (Date of initial registration – 17/02/2007; Current validity of ARN – 08/02/2027), PFRDA Reg. No. PoP 20092018, IRDAI Corporate Agent (Composite) : CA1099

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