1 week ago
Motilal Oswal sees 23% upside in ICICI Pru AMC
Motilal Oswal believes ICICI Pru AMC could grow strongly over the next year.
It kept its Buy recommendation and set a price target of Rs 3,800.
The company manages a large amount of money in active and hybrid mutual funds.
It is also expanding businesses such as portfolio management and alternative investment funds.
Newer products, including passive funds and specialised investment funds, are adding more growth options.
Many investors and distributors use the company’s services.
Its profit increased compared with the same quarter a year earlier.
However, the article contains inconsistent labels, referring to both Q1FY27 and Q1FY26 around the June-quarter results.
Motilal Oswal retained its Buy rating and Rs 3,800 12-month target for ICICI Prudential Asset Management Company.
ICICI Pru AMC leads active mutual funds with a 13.5% market share and equity-oriented hybrids with a 26.6% share.
Its alternatives QAAUM reached Rs 79,450 crore by June 2026, growing at a 50% CAGR over FY23-26.
The company serves 17.3 million investors and captured 70% of industry-wide incremental customer additions in Q1FY27.
Net profit rose 23% year over year to Rs 965 crore in the June quarter of FY27, according to the article.
- Who
- Motilal Oswal and ICICI Prudential Asset Management Company.
- What
- Motilal Oswal retained its Buy rating and Rs 3,800 price target, citing ICICI Pru AMC’s growth prospects and market leadership.
- Where
- India’s asset-management and mutual-fund market.
- When
- The recommendation covers the next 12 months; operating and performance figures refer mainly to June 2026 and Q1FY27, although one section is titled Q1FY26.
- Why
- Motilal Oswal expects active equity leadership, alternatives growth, product diversification, customer additions, resilient revenue yields and operating leverage to support earnings growth.
Key facts
- Brokerage view
- Motilal Oswal retained its Buy rating and Rs 3,800 12-month price target.
- Implied upside
- The target implies more than 23% upside from the current market price.
- Mutual-fund QAAUM
- Rs 11.2 lakh crore.
- Active-fund market share
- 13.5%, the highest in the industry according to the article.
- Alternatives QAAUM
- Rs 79,450 crore in June 2026, representing a 50% CAGR over FY23-26.
- Investor base
- 17.3 million unique investors supported by more than 1.16 lakh distributors and 286 offices.
- June-quarter net profit
- Rs 965 crore, up 23% from Rs 784 crore a year earlier.
Sources
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