India's Aditya Birla Sun Life AMC drops after quarterly profit falls

Aditya Birla Sun Life Amc

Yesterday 06:52

** Aditya Birla Sun Life AMC ADIE.NS drops 4.5% to 907 rupees
** Co on Wednesday reported 8% y-o-y drop in July-September net income, while revenue rose 5%
** New employee stock options scheme led to higher operational expenses and weighed on profit, says Nomura
** Centrum says that growth in assets under management was modest at 4%, while equity market share dropped 45 basis points to 5.69% during Q2
** ADIE rated "buy" on average by 14 brokerage firms, median PT at 1,142.5 rupees, according to data compiled by LSEG
** YTD, stock up 13.4%


 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))