India's Computer Age Management climbs as Kotak sees market share gains

Computer Age Management Services

09/05/2023 11:07

** Shares of Computer Age Management Services Ltd  COMU.NS 
rise as much as 3.06% to 2,117.95 rupees
    ** Kotak Institutional Equities upgrades stock to "reduce"
with PT unchanged at 2,050 rupees after co posts Q4 results
    ** Co's net profit rose 1.1% Y/Y while revenue from ops rose
2.5%
    ** "While co continues to drive revenue diversification, its
dependence on mutual funds still remains sizable, about 90%" -
Kotak
    ** Adds there are signs of progress on non-MF segments, with
a lot of promise after co's non-MF revenue grew 8% Y/Y and 18%
Q/Q
    ** "COMU is well-placed to gain equity AUM market share
driven by its key clients, even as exposure to MF RTA in general
remains a drag" - Kotak
    ** More than 220,000 shares change hands by 3:03 p.m. IST,
2.8x 30-day avg
    ** 4 analysts rate stock 'buy' or higher, 2 'hold' and 3
'sell' or lower - Refinitiv data
    ** Analysts' median PT of 2,500 rupees a 21.7% premium to
Monday's close
    ** Including session's gains, stock cuts YTD loss to 4.9%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))