India's Nippon Life up on IndusInd stake sale reports

Nippon Life India Asset Management

20/12/2023 04:21

** Shares of Nippon Life India Asset Management  NIPF.NS  up
7% at 480.3 rupees, paring back from record high of 489 rupees
    ** IndusInd Bank  INBK.NS  likely to sell 2.86% stake in co
via block deals, multiple media reports say
    ** Stock on track to rise for four consecutive weeks, also
eyes third straight quarters of gains
    ** About 2.7 mln shares changed hands, 3.5x 30-day avg
    ** Analysts' avg recommendation is "buy," but their median
PT of 410 rupees is 17% below current market price - LSEG data
    ** NIPF has surged more than 91% so far this year

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))