India’s Asset Management Company (AMC) sector is witnessing rapid expansion, with total assets under management (AUM) reaching ₹72 trillion as of May 2025. The industry serves over 23 crore investor accounts, fueled by rising retail participation and monthly SIP inflows exceeding ₹26,000 crore. This robust growth highlights the sector’s increasing role in India’s financial landscape
The brokerage expects India’s Mutual Fund industry to grow its Assets Under Management (AUM) at a Compounded Annual Growth Rate (CAGR) of over 15% and active equities AUM at 20% led by consensus expectations of low double-digit nominal GDP growth and earnings growth, resilient and ever-increasing SIP flows, acceleration by digital-first / fintech distributors and sustained growth momentum in passive AUM.
Here are AMC stocks in which analysts are expecting bullish movement:
1. HDFC Asset Management Company Ltd
With a market capitalization of Rs 1.10 lakh crore, the shares were trading at Rs 5,146.00 per share, increasing around 0.72 percent as compared to the previous closing price.
Antique, one of the well-known brokerages in India, gave a ‘Buy’ call on this stock with a target price of Rs 6,000 apiece, indicating a potential upside of 17 percent from Wednesday’s price of Rs 5,145.00 per share.
According to the brokerage, HDFC AMC’s equity AUM market share has recovered to 13% by March 2025, reflecting strong investor confidence. With a high equity mix, 60% net margin, 33% RoE, and 80% dividend payout, the company commands a premium valuation. Antique forecasts 15% revenue and 16% PAT CAGR over FY25–28, indicating robust growth.
2. Nippon Life India Asset Management Ltd
With a market capitalization of Rs 51,095.22 crore, the shares were trading at Rs 804.20 per share, increasing around 1.96 percent as compared to the previous closing price.
Antique, one of the well-known brokerages in India, gave a ‘Buy’ call on this stock with a target price of Rs 950 apiece, indicating a potential upside of 18 percent from Wednesday’s price of Rs 804.00 per share.
Nippon Life AMC (NAM) boasts the largest retail investor base, with 38% share of unique investors and 13.8% of total folios. Its SIP inflow share doubled to over 10% by Q4 FY25, driven by strong equity scheme performance. However, market volatility and fund performance pose key risks ahead.
3. Aditya Birla Sun Life AMC Ltd
With a market capitalization of Rs 23,575.89 crore, the shares were trading at Rs 817.00 per share, increasing around 0.34 percent as compared to the previous closing price.
Antique has issued a ‘Buy’ rating on the stock with a target price of ₹900, implying a 10% upside from its current price of ₹817. The recommendation reflects confidence in the company’s fundamentals and future prospects.
Antique highlights the company’s strategic focus on process consistency, talent alignment, and quant-driven investing. Leadership in debt AUM, an expansive network, and strong digital partnerships enhance cost-efficient growth. It projects 12% CAGR in revenue and PAT from FY25–28. However, rising competition and execution risks in alternatives remain key concerns.
4. UTI Asset Management Company Ltd
With a market capitalization of Rs 17,148.32 crore, the shares were trading at Rs 1,339.10 per share, decreased around 0.42 percent as compared to the previous closing price.
Antique has issued a ‘Buy’ rating on the stock with a target price of ₹1,500, implying a 12% upside from its current price of ₹1,339. The recommendation reflects confidence in the company’s fundamentals and future prospects.
Antique expects UTI AMC’s improving fund performance to boost inflows, with costs rising modestly in mid-single digits, lower than peers. As a leader in passive investments, UTI is poised to expand selectively in ETFs and index funds. Projected 12% CAGR in revenue and PAT through FY25–28, despite risks like competition and fee pressure.
Written by Abhishek Singh
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