India's ICICI Prudential AMC down; brokerage Motilal Oswal initiates with 'buy'

ICICI Prudential Asset Management

27/03/2026 05:01

** Shares of India's ICICI Prudential Asset Management Company IICL.NS down 1.3% at 2,865 rupees

** Brokerage Motilal Oswal initiates coverage on ICICI Prudential AMC with a "buy" rating, sets PT at 3,500 rupees

** Brokerage says company is well-positioned to benefit from structural expansion of India's mutual fund industry

** Expects company to deliver revenue CAGR of ~15% over FY26-28, driven by sustained equity and systematic investment plan (SIP) inflows, improving product mix toward higher-yielding non-MF assets, and operating leverage

** Adds strong parentage backing and diversified distribution supporting scalable growth

** Says ICICI Prudential AMC's strong cash generation and capital-light model also support a high dividend payout profile, enhancing shareholder returns

** IICL rated "buy" on avg by 10 analysts covering it; median PT at 3393 rupees- data compiled by LSEG

** YTD, IICL stock up ~8%

 (Reporting by Komal Salecha in Bengaluru)

 ((Komal@thomsonreuters.com))