India, July 27 -- India's asset management industry has spent the last few years riding a wave of retail money moving from bank deposits into mutual funds and ETFs, a shift often called financialisation. The company has been one of the more visible winners of that shift, and its latest numbers give the brokerage enough to stick with its bullish call.

Nippon Life India AMC shares opened on Monday at Rs 1,123.60, well within its 52-week range of Rs 780 to Rs 1,234. At Motilal Oswal's target of Rs.1,380, the stock would need to climb about 24% from here, a call the brokerage is making on the back of the company's strongest quarter yet.

Why Motilal Oswal Is Backing This Stock Motilal Oswal has kept its BUY rating on Nippon Life India AMC un...