December 21, 2017 / 4:40 AM / 6 months ago

BUZZ-India's Reliance Nippon Life jumps; CLSA starts with 'buy'

** Shares of Reliance Nippon Life Asset Management Ltd jump as much as 4.8 pct to 287.9 rupees, highest since Nov 14

** CLSA starts coverage with “buy”, TP of 325 rupees

** Brokerage says India’s third-largest asset manager should benefit from rising penetration and ability to leverage strong retail presence

** Reliance Nippon Life is also poised to benefit from presence in country’s below top-15 cities, where it has a market share of 12 pct - CLSA

** Robust earnings growth and high dividend payouts will aid investor returns - CLSA

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