The key equity benchmarks traded with major gains in morning trade. The Nifty traded above the 23,550 mark. Realty shares witnessed buying demand for the fifth consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex gained 693.38 points or 0.90% to 77,842.37. The Nifty 50 index rose 204.15 points or 0.87% to 23,554.05. The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index rallied 0.38% and the S&P BSE Small-Cap index rose 0.37%. The market breadth was strong. On the BSE, 2,214 shares rose and 1,324 shares fell. A total of 164 shares were unchanged. New Listing: Shares of Zinka Logistics Solutions were currently trading at Rs 276.45 at 10:15 IST on the BSE, representing a premium of 1.26% as compared with the issue price of Rs 273. The scrip was listed at Rs 279.05, exhibiting a premium of 2.21% to the issue price. So far, the stock has hit a high of 285.80 and a low of 271.50. On the BSE, over 2.92 lakh shares of the company were traded in the counter so far. Buzzing Index: The Nifty Realty index jumped 2.27% to 997.40. The index rallied 6.41% in five consecutive trading sessions. Raymond (up 5.96%), Godrej Properties (up 4.18%), Macrotech Developers (up 3.27%), DLF (up 3.26%), Sobha (up 2.97%), Brigade Enterprises (up 1.64%), Mahindra Lifespace Developers (up 1.03%), Phoenix Mills (up 0.46%) and Oberoi Realty (up 0.43%) advanced. Stocks in Spotlight: Nippon Life Indian Asset management rose 1.15% after the company has executed a definitive agreement with One Place Commercials for the purchase of commercial office space in Lower Parel, Mumbai for Rs 486 crore. Raymond rallied 5.78% after the company has received a 'No observation letter' from the NSE & BSE for the scheme of arrangement between the company and Raymond Realty. Powered by Capital Market - Live

The new space, located at One Lodha Place, Lower Parel, spans a carpet area of 52,162 square feet. The purchase has been made for a consideration of Rs 486 crore, excluding applicable stamp duty. NAM India said there are no shareholding ties with the selling entity, and the transaction is not categorised as a related party transaction. NAM India is the asset manager of Nippon India Mutual Fund (NIMF). The company is involved in managing mutual funds including exchange traded funds (ETFs); managed accounts, including portfolio management services (PMS), alternative investment funds and pension funds; and offshore funds and advisory mandates. The company's consolidated net profit jumped 47.33% to Rs 360.10 crore on 45.59% rise in total income to Rs 692.08 crore in Q2 FY25 over Q2 FY24. The scrip rose 0.99% to currently trade at Rs 681.50 on the BSE.Powered by Capital Market - Live

Nippon Life India Asset Management has launched two index funds - Nippon India Nifty Auto Index Fund and Nippon India Nifty Realty Index Fund on 14 November 2024. Powered by Capital Market - Live

Nippon Life India Asset Management has allotted 1,01,291 equity shares under ESOP on 13 November 2024. Post allotment, the paid up equity share capital has increased to 63,33,29,257 equity shares of Rs 10 each. Powered by Capital Market - Live

Revenue from operations was at Rs 571.30 crore in Q2 FY25, registering a growth of 43.73% on YoY basis. Profit before tax (PBT) surged 56.59% to Rs 486.05 crore in the September quarter from Rs 310.39 crore recorded in the corresponding quarter previous year. Total expenses added 24.88% to Rs 206.03 crore in Q2 FY25 as compared with Rs 164.97 crore in Q2 FY24. Core operating profit stood at Rs 3,653 crore in Q2 FY25, up 57% from Rs 2,325 crore recorded in Q2 FY24. As on June 2024, NAM India's assets under management stood at Rs 6.54 lakh crore ($ 78.1 billion). NIMF's average assets under management stood at Rs 5.49 lakh crore ($65.5 billion), up 57% YoY in Q2 FY25. During the quarter, share of equity assets rose to 51.1% of NIMF's AUM as against 46.8% as on 30 September 2023. Individual AUM (retail + HNI) was at Rs 3.39 lakh crore ($40.4 billion), registering a growth of 14% QoQ. This segment contributed 60% to NIMF's AUM. NIMF has one of the largest retail assets in the industry, at Rs 1.74 lakh crore ($ 20.7 billion). Retail assets contributed 31% to NIMF's AUM as against industry average of 28%. NIMF is one of the largest ETF players with AUM of Rs 1.48 lakh crore ($17.7 billion) and a market share of 18.17%. On half year basis, the company's net profit rallied 44.21% to Rs 692.43 crore on 43.19% rise in revenue to Rs 1076.26 crore in H1 FY25 over H1 FY24. Meanwhile, the company's board has approved declaration of an interim dividend of Rs 8.00 per equity share. The company has fixed the record date 6 November 2024 for the purpose of ascertaining the entitlement of the shareholders to the interim dividend. Dividend will be paid on and from 14 November 2024. Sundeep Sikka, ED managed accounts, including portfolio management services (PMS), alternative investment funds and pension funds; and offshore funds and advisory mandates. Powered by Capital Market - Live

Net profit of Nippon Life India Asset Management rose 47.33% to Rs 360.10 crore in the quarter ended September 2024 as against Rs 244.41 crore during the previous quarter ended September 2023. Sales rose 43.73% to Rs 571.30 crore in the quarter ended September 2024 as against Rs 397.48 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales571.30397.48 44 OPM %65.5360.73 - PBDT493.48317.58 55 PBT486.05310.39 57 NP360.10244.41 47 Powered by Capital Market - Live

Nippon Life India Asset Mgt. announced that the Board of Directors of the Company at its meeting held on 24 October 2024, inter alia, have recommended the interim dividend of Rs 8 per equity Share (i.e. 80%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Nippon Life India Asset Mgt. will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live

Nippon Life India Asset Management has allotted 7,980 equity shares under ESOP on 25 September 2024. With this allotment, the paid up equity share capital has increased to 63,32,27,966 equity shares of Rs 10 each. Powered by Capital Market - Live

Consequently, Amol Bilagi was appointed as the interim CFO and KMP of the company with effect from 4 January 2024. He shall cease to be the interim CFO and KMP with effect from the appointment of Joglekar as the CFO of the company. However, Bilagi will be designated as deputy CFO effective from 19 September 2024. Parag Joglekar has over 25 years of experience in the Finance domain and is currently working with Aditya Birla Sun Life AMC as CFO. NAM India is the asset manager of Nippon India Mutual Fund (NIMF). The company is involved in managing mutual funds including exchange traded funds (ETFs); managed accounts, including portfolio management services (PMS), alternative investment funds and pension funds; and offshore funds and advisory mandates. The company's consolidated net profit jumped 40.99% to Rs 332.33 crore on 34.98% rise in total income to Rs 635.76 crore in Q1 FY25 over Q1 FY24. The scrip rose 1.50% to end at Rs 668.20 on Wednesday 18 September 2024.Powered by Capital Market - Live