Nippon Life India Asset Management Ltd (NAM India) reported a cyberattack on its IT systems late on April 9th. Upon detection of the incident, the company took immediate action by shutting down the affected systems to minimize further damage. To understand the full scope of the attack, NAM India is working with top cybersecurity experts. Although the company made an official disclosure to the stock exchanges, specific details regarding the attack remain undisclosed as the investigation continues.
Following the cyberattack, NAM India’s stock experienced notable movement on the Bombay Stock Exchange.
With a market capitalization of Rs. 35,019.7 crores, the stock reached an intraday high of Rs. 556.95, marking a 6 percent increase from its previous closing price. The stock has also shown positive returns of 2 percent over the past year and a 3 percent rise in the last month. Despite the cybersecurity incident, investors have shown confidence in the company’s performance, reflecting in its stock price.
In terms of financial performance, NAM India showed significant growth in the recent quarter.
Revenue from operations increased by nearly 39 percent year-on-year, rising from Rs. 423 crores in Q3 FY24 to Rs. 588 crores in Q3 FY25. The company’s net profit also saw a slight increase of about 4 percent, moving from Rs. 284 crores to Rs. 295 crores over the same period. To discuss its full financial results, the company plans to hold a conference call on April 28, 2025, addressing the audited financial results for the fiscal year ending March 31, 2025.
NAM India, one of the largest asset managers in India, oversees a wide range of financial products. The company manages mutual funds, exchange-traded funds (ETFs), portfolio management services, alternative investment funds (AIFs), and offshore funds. It also advises on India-focused equity and fixed-income funds in Japan and Thailand. Furthermore, NAM India operates offshore funds through its subsidiary in Singapore and has a representative office in Dubai, demonstrating its strong international presence.
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