On April 24, Nippon Life reported its highest-ever quarterly profit after tax (PAT) at Rs 343 crore for the January-March quarter, marking a 73 percent jump from the year-ago period
Nippon Life India Asset Management Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 33112.65 Crore) operating in Financial Services sector.
"Following a rapid rebound from its positional support at 21500, bullish activity has resumed in the market, with buying interest evident during dips. The prevailing sentiment is bullish, but Nifty encounters initial resistance at 21750, facing selling pressure. Immediate support rests at 21600. A conclusive close above 21750 levels could propel Nifty towards the 22000 mark, signaling further upward movement," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Exchange data showed that 1.78 crore shares of Nippon Life AMC changed hands in block deal window following which the stock rallied up to 8.2% to the day s and 52-week high of Rs 486.80.
Indian equity indices shed early gains to end flat on Thursday, as IT stocks pulled back after a recent rally. Ciplas slide following the US health regulator s warning letter also contributed to Sensexs lacklustre gains on Thursday.