JEFFERIES ON ICICI PRU AMC ; BUY | TP ₹3,760 | EARLIER TP ₹3,600

• Q2 results beat estimates, led by higher revenue yield. • Yield improvement driven by higher alternate and equity yields. • Redemptions pressured net flows, while gross flows remained stable. • Expansion in alternates business remains on track.

ICICI PRUDENTIAL AMC LTD

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