Reliance Nippon Life Asset Management Co. Ltd’s (RNAM’s) stock has slipped 5% in the last two trading sessions, despite the company clocking a steady increase in its margins and earnings. While profit growth was impressive, investors seemed to be worried about the slower assets under management (AUM) growth. The company’s AUM in March 2019 decreased 4.6% over last year to ₹2.34 trillion (see chart above). “RNAM’s funds are considerably exposed to the ADA Group (a few group companies were recently downgraded to ‘D’). Reliance Group firms have sued HT Media Ltd, Mint’s publisher, and nine others in Bombay High Court over a 2 October 2014, front-page story that they have disputed.

Source: Mint May 02, 2019 17:26 UTC