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Nippon Life India AMC rises 2% after company signs deal to explore Taiwan market
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Last Updated: Apr 15, 2021, 02:24 PM IST
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Synopsis
Cathay SITE and Nippon will work exclusively with each other and use their expertise to explore areas for developing, managing, marketing and distributing each other’s investment products
NAM India runs the Nippon Mutual Fund.
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NEW DELHI: Nippon Life India Asset Management Ltd (NAM India) shares rose after the company signed a deal with Cathay SITE (Securities Investment Trust), the largest asset manager in Taiwan, for exclusive strategic collaboration.
As a part of the deal, both Cathay SITE and Nippon will work exclusively with each other and use their expertise to explore areas for developing, managing, marketing and distributing each other’s investment products in India and Taiwan.
Synopsis
Total income rose by 11 per cent to Rs 399 crore during the quarter under review from Rs 360.64 crore in three months ended December 31, 2019.
Agencies
Nippon Life India Asset Management (NAM India) on Wednesday reported a 42 per cent jump in profit after tax at Rs 212 crore for three months ended December 31, 2020. In comparison, the company had a profit after tax (PAT) of Rs 149.30 crore in the year-ago period, NAM India said in a regulatory filing to stock exchanges. Total income rose by 11 per cent to Rs 399 crore during the quarter under review from Rs 360.64 crore in three months ended December 31, 2019. In addition, the company s board approved interim dividend of Rs 3 per share.