Centrum Initiates Buy On SBI Funds Management

Economic Times Markets · stocks

Centrum Broking has initiated coverage on SBI Funds Management with a 'Buy' rating and a target price of Rs 700, indicating a potential 34% upside. The brokerage cited SBI AMC's strong distribution network, leadership in B-30 markets, and growing non-mutual fund businesses as key growth drivers. SBI AMC is India's largest asset manager with Rs 12.7 trillion in assets under management and a 15.1% market share. Centrum expects continued growth in both mutual fund and non-mutual fund businesses.