HSBC on NAM AMC : Hold. TP Rs 1090
Analyst day takeawaysq
Management guided for continued investments in distribution & branding, to increase customer base & its wallet share
It is looking at expansion in B-100 cities and digital partnerships as growth accelerators, scaling non-MF business in focus, too
Its premium valuations look well-anchored by fundamentals, limiting rerating potential
September 1, 2026 81
