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    Stock Radar: Down 40% from highs! Siddarth Bhamre explains why Nippon India is a contra buy

    The stock recently took support near Rs 260 and then bounced back. It is available at attractive valuations compared to peers in the mutual fund industry that hold a lot of promise compared to the US or the world average.

    Synopsis

    The equity market is going through a period of volatility which could push the stock lower by 10-20% additionally, but investors with a holding period of 1-2 years can keep it for a target closer to Rs 492, suggest experts.

    Nippon Life India Asset Management Ltd, part of the AMC universe, has fallen more than 40 per cent from its October 2021 highs and is under a bear grip, but long-term investors can look at accumulating the stock as fundamentals look attractive, suggest experts.The Asset Management Company, with a market capitalization of more than Rs 17000 crore, hit a 52-week high of Rs 476 on the BSE on 19 October 2021, but it failed to hold on to the
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