NUVAMA
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India's appeal for investors dimmed but not derailed by conflict with Pakistan
Repeats item that first ran on Wednesday
By Ira Dugal, Bharath Rajeswaran and Jaspreet Kalra
MUMBAI, May 7 (Reuters) - The latest conflict between India and Pakistan may impact New Delhi's efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil - but not much, investors and analysts said on Wednesday, as tensions ratcheted up between the nuclear-armed neighbours.
India's $4 trillion economy has limited direct trade with Pakistan, and even its overnight cross-border missile strikes had little immediate impact on local equity, currency and bond markets, on the view that full-fledged conflict is unlikely.
"If there is a cessation of hostilities like there should be, pragmatically and practically, the investment climate may not actually be harmed," said Ajay Marwaha, head of fixed income at Mumbai-headquartered investment house Nuvama Group.
Previous conflicts have not had a lasting impact on Indian assets, Citibank analysts wrote in a note on Wednesday.
In the last such flare-up with Pakistan, in February 2019, the Indian rupee held steady and bond yields rose 15 basis points over that month but retreated later.
In June 2020, when fighting broke out between Indian and Chinese troops in the Galwan valley, the rupee weakened 1% but regained ground as the two sides disengaged, Citi analysts said.
Since U.S. President Donald Trump unveiled a slate of huge tariffs on his country's trading partners, Indian markets have in fact performed well.
"The Indian market had begun to outperform on the back of the perception that there is some insulation from Trump tariffs given the strength of domestic consumption and a clear signal of monetary loosening from the central bank," said Sat Dhura, portfolio manager at Janus Henderson Investors.
He acknowledged that: "Recent events are likely to keep foreign investors away," but added that local investment flows are likely to be sticky, helping serve as a support to the markets.
India is expected to remain the fastest-growing major economy with the central bank forecasting GDP growth of 6.5% this financial year. It is also among the best-performing of the world's big stock markets since early April, when Washington announced reciprocal tariffs on its trading partners, with the benchmark Nifty 50 .NSEI rising 4.6% since then.
Foreign investors, who had heavily sold Indian stocks from last October to March of this year, turned buyers in April and early May purchasing about $1.5 billion. They remained sellers of Indian bonds, offloading $1.7 billion since the start of April.
UAE-based asset manager NAV Capital reckons that the geopolitical flare-up may temper immediate foreign portfolio flows into India but it expects global investors to remain invested in the country unless the latest conflict spirals.
FOCUS ON TRADE DEALS
The focus, analysts said, remains on trade deals.
India sealed a long-negotiated trade agreement with the U.K. on Tuesday and discussions are ongoing for a bilateral trade agreement with the U.S.
"While sentiments are likely to be jittery in the immediate term, these tensions are unlikely to derail the medium-term appeal of the Indian economy," said Radhika Rao, senior economist at DBS Bank in Singapore.
More "substantial developments" like the just-concluded India-UK trade deal, the impending agreement with the U.S. and the central bank’s dovish policies will dictate the path of India’s growth trade outlook, Rao said.
As part of these trade negotiations, India plans to bring down high tariffs for raw materials which have prevented large-scale manufacturing to move to the country.
The impact of the conflict between India and Pakistan on any potential longer-term investment "may not be very much", said Subhash Chandra Garg, a former top government bureaucrat.
The areas bordering Pakistan are in the north and west of India but most foreign investment for manufacturing facilities is centred in southern and central India, Garg noted.
Indian assets' performance since militant attack in Kashmir https://reut.rs/43f8DgZ
India's benchmarks outperform global peers after U.S. announces tariffs https://reut.rs/44szdV4
(Reporting by Ira Dugal and Jaspreet Kalra in Mumbai, Bharath Rajeswaran in Bengaluru; Editing by Hugh Lawson)
(([email protected]; +91-9833024892;))
Repeats item that first ran on Wednesday
By Ira Dugal, Bharath Rajeswaran and Jaspreet Kalra
MUMBAI, May 7 (Reuters) - The latest conflict between India and Pakistan may impact New Delhi's efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil - but not much, investors and analysts said on Wednesday, as tensions ratcheted up between the nuclear-armed neighbours.
India's $4 trillion economy has limited direct trade with Pakistan, and even its overnight cross-border missile strikes had little immediate impact on local equity, currency and bond markets, on the view that full-fledged conflict is unlikely.
"If there is a cessation of hostilities like there should be, pragmatically and practically, the investment climate may not actually be harmed," said Ajay Marwaha, head of fixed income at Mumbai-headquartered investment house Nuvama Group.
Previous conflicts have not had a lasting impact on Indian assets, Citibank analysts wrote in a note on Wednesday.
In the last such flare-up with Pakistan, in February 2019, the Indian rupee held steady and bond yields rose 15 basis points over that month but retreated later.
In June 2020, when fighting broke out between Indian and Chinese troops in the Galwan valley, the rupee weakened 1% but regained ground as the two sides disengaged, Citi analysts said.
Since U.S. President Donald Trump unveiled a slate of huge tariffs on his country's trading partners, Indian markets have in fact performed well.
"The Indian market had begun to outperform on the back of the perception that there is some insulation from Trump tariffs given the strength of domestic consumption and a clear signal of monetary loosening from the central bank," said Sat Dhura, portfolio manager at Janus Henderson Investors.
He acknowledged that: "Recent events are likely to keep foreign investors away," but added that local investment flows are likely to be sticky, helping serve as a support to the markets.
India is expected to remain the fastest-growing major economy with the central bank forecasting GDP growth of 6.5% this financial year. It is also among the best-performing of the world's big stock markets since early April, when Washington announced reciprocal tariffs on its trading partners, with the benchmark Nifty 50 .NSEI rising 4.6% since then.
Foreign investors, who had heavily sold Indian stocks from last October to March of this year, turned buyers in April and early May purchasing about $1.5 billion. They remained sellers of Indian bonds, offloading $1.7 billion since the start of April.
UAE-based asset manager NAV Capital reckons that the geopolitical flare-up may temper immediate foreign portfolio flows into India but it expects global investors to remain invested in the country unless the latest conflict spirals.
FOCUS ON TRADE DEALS
The focus, analysts said, remains on trade deals.
India sealed a long-negotiated trade agreement with the U.K. on Tuesday and discussions are ongoing for a bilateral trade agreement with the U.S.
"While sentiments are likely to be jittery in the immediate term, these tensions are unlikely to derail the medium-term appeal of the Indian economy," said Radhika Rao, senior economist at DBS Bank in Singapore.
More "substantial developments" like the just-concluded India-UK trade deal, the impending agreement with the U.S. and the central bank’s dovish policies will dictate the path of India’s growth trade outlook, Rao said.
As part of these trade negotiations, India plans to bring down high tariffs for raw materials which have prevented large-scale manufacturing to move to the country.
The impact of the conflict between India and Pakistan on any potential longer-term investment "may not be very much", said Subhash Chandra Garg, a former top government bureaucrat.
The areas bordering Pakistan are in the north and west of India but most foreign investment for manufacturing facilities is centred in southern and central India, Garg noted.
Indian assets' performance since militant attack in Kashmir https://reut.rs/43f8DgZ
India's benchmarks outperform global peers after U.S. announces tariffs https://reut.rs/44szdV4
(Reporting by Ira Dugal and Jaspreet Kalra in Mumbai, Bharath Rajeswaran in Bengaluru; Editing by Hugh Lawson)
(([email protected]; +91-9833024892;))
India's appeal for investors dimmed but not derailed by conflict with Pakistan
By Ira Dugal, Bharath Rajeswaran and Jaspreet Kalra
MUMBAI, May 7 (Reuters) - The latest conflict between India and Pakistan may impact New Delhi's efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil - but not much, investors and analysts said on Wednesday, as tensions ratcheted up between the nuclear-armed neighbours.
India's $4 trillion economy has limited direct trade with Pakistan, and even its overnight cross-border missile strikes had little immediate impact on local equity, currency and bond markets, on the view that full-fledged conflict is unlikely.
"If there is a cessation of hostilities like there should be, pragmatically and practically, the investment climate may not actually be harmed," said Ajay Marwaha, head of fixed income at Mumbai-headquartered investment house Nuvama Group.
Previous conflicts have not had a lasting impact on Indian assets, Citibank analysts wrote in a note on Wednesday.
In the last such flare-up with Pakistan, in February 2019, the Indian rupee held steady and bond yields rose 15 basis points over that month but retreated later.
In June 2020, when fighting broke out between Indian and Chinese troops in the Galwan valley, the rupee weakened 1% but regained ground as the two sides disengaged, Citi analysts said.
Since U.S. President Donald Trump unveiled a slate of huge tariffs on his country's trading partners, Indian markets have in fact performed well.
"The Indian market had begun to outperform on the back of the perception that there is some insulation from Trump tariffs given the strength of domestic consumption and a clear signal of monetary loosening from the central bank," said Sat Dhura, portfolio manager at Janus Henderson Investors.
He acknowledged that: "Recent events are likely to keep foreign investors away," but added that local investment flows are likely to be sticky, helping serve as a support to the markets.
India is expected to remain the fastest-growing major economy with the central bank forecasting GDP growth of 6.5% this financial year. It is also among the best-performing of the world's big stock markets since early April, when Washington announced reciprocal tariffs on its trading partners, with the benchmark Nifty 50 .NSEI rising 4.6% since then.
Foreign investors, who had heavily sold Indian stocks from last October to March of this year, turned buyers in April and early May purchasing about $1.5 billion. They remained sellers of Indian bonds, offloading $1.7 billion since the start of April.
UAE-based asset manager NAV Capital reckons that the geopolitical flare-up may temper immediate foreign portfolio flows into India but it expects global investors to remain invested in the country unless the latest conflict spirals.
FOCUS ON TRADE DEALS
The focus, analysts said, remains on trade deals.
India sealed a long-negotiated trade agreement with the U.K. on Tuesday and discussions are ongoing for a bilateral trade agreement with the U.S.
"While sentiments are likely to be jittery in the immediate term, these tensions are unlikely to derail the medium-term appeal of the Indian economy," said Radhika Rao, senior economist at DBS Bank in Singapore.
More "substantial developments" like the just-concluded India-UK trade deal, the impending agreement with the U.S. and the central bank’s dovish policies will dictate the path of India’s growth trade outlook, Rao said.
As part of these trade negotiations, India plans to bring down high tariffs for raw materials which have prevented large-scale manufacturing to move to the country.
The impact of the conflict between India and Pakistan on any potential longer-term investment "may not be very much", said Subhash Chandra Garg, a former top government bureaucrat.
The areas bordering Pakistan are in the north and west of India but most foreign investment for manufacturing facilities is centred in southern and central India, Garg noted.
Indian assets' performance since militant attack in Kashmir https://reut.rs/43f8DgZ
India's benchmarks outperform global peers after U.S. announces tariffs https://reut.rs/44szdV4
(Reporting by Ira Dugal and Jaspreet Kalra in Mumbai, Bharath Rajeswaran in Bengaluru; Editing by Hugh Lawson)
(([email protected]; +91-9833024892;))
By Ira Dugal, Bharath Rajeswaran and Jaspreet Kalra
MUMBAI, May 7 (Reuters) - The latest conflict between India and Pakistan may impact New Delhi's efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil - but not much, investors and analysts said on Wednesday, as tensions ratcheted up between the nuclear-armed neighbours.
India's $4 trillion economy has limited direct trade with Pakistan, and even its overnight cross-border missile strikes had little immediate impact on local equity, currency and bond markets, on the view that full-fledged conflict is unlikely.
"If there is a cessation of hostilities like there should be, pragmatically and practically, the investment climate may not actually be harmed," said Ajay Marwaha, head of fixed income at Mumbai-headquartered investment house Nuvama Group.
Previous conflicts have not had a lasting impact on Indian assets, Citibank analysts wrote in a note on Wednesday.
In the last such flare-up with Pakistan, in February 2019, the Indian rupee held steady and bond yields rose 15 basis points over that month but retreated later.
In June 2020, when fighting broke out between Indian and Chinese troops in the Galwan valley, the rupee weakened 1% but regained ground as the two sides disengaged, Citi analysts said.
Since U.S. President Donald Trump unveiled a slate of huge tariffs on his country's trading partners, Indian markets have in fact performed well.
"The Indian market had begun to outperform on the back of the perception that there is some insulation from Trump tariffs given the strength of domestic consumption and a clear signal of monetary loosening from the central bank," said Sat Dhura, portfolio manager at Janus Henderson Investors.
He acknowledged that: "Recent events are likely to keep foreign investors away," but added that local investment flows are likely to be sticky, helping serve as a support to the markets.
India is expected to remain the fastest-growing major economy with the central bank forecasting GDP growth of 6.5% this financial year. It is also among the best-performing of the world's big stock markets since early April, when Washington announced reciprocal tariffs on its trading partners, with the benchmark Nifty 50 .NSEI rising 4.6% since then.
Foreign investors, who had heavily sold Indian stocks from last October to March of this year, turned buyers in April and early May purchasing about $1.5 billion. They remained sellers of Indian bonds, offloading $1.7 billion since the start of April.
UAE-based asset manager NAV Capital reckons that the geopolitical flare-up may temper immediate foreign portfolio flows into India but it expects global investors to remain invested in the country unless the latest conflict spirals.
FOCUS ON TRADE DEALS
The focus, analysts said, remains on trade deals.
India sealed a long-negotiated trade agreement with the U.K. on Tuesday and discussions are ongoing for a bilateral trade agreement with the U.S.
"While sentiments are likely to be jittery in the immediate term, these tensions are unlikely to derail the medium-term appeal of the Indian economy," said Radhika Rao, senior economist at DBS Bank in Singapore.
More "substantial developments" like the just-concluded India-UK trade deal, the impending agreement with the U.S. and the central bank’s dovish policies will dictate the path of India’s growth trade outlook, Rao said.
As part of these trade negotiations, India plans to bring down high tariffs for raw materials which have prevented large-scale manufacturing to move to the country.
The impact of the conflict between India and Pakistan on any potential longer-term investment "may not be very much", said Subhash Chandra Garg, a former top government bureaucrat.
The areas bordering Pakistan are in the north and west of India but most foreign investment for manufacturing facilities is centred in southern and central India, Garg noted.
Indian assets' performance since militant attack in Kashmir https://reut.rs/43f8DgZ
India's benchmarks outperform global peers after U.S. announces tariffs https://reut.rs/44szdV4
(Reporting by Ira Dugal and Jaspreet Kalra in Mumbai, Bharath Rajeswaran in Bengaluru; Editing by Hugh Lawson)
(([email protected]; +91-9833024892;))
India's Nuvama Wealth rises as ICRA reaffirms ratings, revises outlook to 'positive'
** Shares of Nuvama Wealth Management NUVA.NS up 1.9% to 5,564 rupees
** The company, which provides investment banking and brokerage services, says credit rating agency ICRA Ltd ICRA.NS reaffirmed its issuer rating assigned to Nuvama and revised outlook from stable to positive
** ICRA also reaffirms credit rating assigned to Long term/Short term non-fund-based bank lines and, revised outlook from stable to positive for unit Nuvama Clearing Services - co
** Avg rating of seven analysts is "strong buy" and median PT is 8,000 rupees, ~43.3% higher than current price - LSEG data
** NUVA nearly doubled in 2024
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
** Shares of Nuvama Wealth Management NUVA.NS up 1.9% to 5,564 rupees
** The company, which provides investment banking and brokerage services, says credit rating agency ICRA Ltd ICRA.NS reaffirmed its issuer rating assigned to Nuvama and revised outlook from stable to positive
** ICRA also reaffirms credit rating assigned to Long term/Short term non-fund-based bank lines and, revised outlook from stable to positive for unit Nuvama Clearing Services - co
** Avg rating of seven analysts is "strong buy" and median PT is 8,000 rupees, ~43.3% higher than current price - LSEG data
** NUVA nearly doubled in 2024
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
PAG Is Said To Mull Sale Of $1.2 Billion Stake In India's Nuvama - Bloomberg News
Feb 26 (Reuters) -
PAG IS SAID TO MULL SALE OF $1.2 BILLION STAKE IN INDIA’S NUVAMA - BLOOMBERG NEWS
Source text: https://tinyurl.com/4s2fbmdv
(([email protected];))
Feb 26 (Reuters) -
PAG IS SAID TO MULL SALE OF $1.2 BILLION STAKE IN INDIA’S NUVAMA - BLOOMBERG NEWS
Source text: https://tinyurl.com/4s2fbmdv
(([email protected];))
Nuvama Wealth Management Dec-Quarter Consol Net Profit 2.52 Bln Rupees
Jan 31 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT LTD DEC-QUARTER CONSOL NET PROFIT 2.52 BILLION RUPEES
NUVAMA WEALTH MANAGEMENT LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.32 BILLION RUPEES
Source text: [ID:]
Further company coverage: NUVA.NS
(([email protected];))
Jan 31 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT LTD DEC-QUARTER CONSOL NET PROFIT 2.52 BILLION RUPEES
NUVAMA WEALTH MANAGEMENT LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.32 BILLION RUPEES
Source text: [ID:]
Further company coverage: NUVA.NS
(([email protected];))
PAG acquires majority stake in India's Pravesha Industries
HONG KONG/SINGAPORE, Jan 13 (Reuters) - Asia-focused private equity firm PAG said on Monday that it has acquired a majority stake in Indian pharmaceutical packaging company Pravesha Industries, according to a statement.
Financial details were not disclosed in the statement. A source with knowledge of the matter said the deal gave Pravesha an enterprise value of $200 million.
PAG and Pravesha declined to comment.
"India's packaging sector has been one of our focuses, given its exposure to key themes driven by India's domestic manufacturing, consumer and industrial sectors," Nikhil Srivastava, managing director and head of India private equity, PAG's partner, said in the statement.
Founded in 1999, Pravesha produces over 15,000 metric tons of plastic bottles, closures and drums and more than two billion units of cartons, labels and leaflets annually for some of the world's largest pharmaceutical companies, the statement showed.
Meanwhile, PAG said it has also signed definitive documents to invest in an Indian rigid plastic packaging company, Manjushree Technopack Ltd MANT.M3, without disclosing financial details.
PAG has been investing in India since 2009 and currently manages over $3 billion in assets in the country, counting Nuvama Wealth Management NUVA.NS and Sekhmet Pharmaventures among its investments there, the statement showed.
PAG, whose private equity arm is led by seasoned Chinese dealmaker Shan Weijian, manages more than $55 billion in capital ranging from private equity to credit, according to its website.
(Reporting by Kane Wu in Hong Kong and Yantoultra Ngui in Singapore; Editing by Michael Perry)
(([email protected];))
HONG KONG/SINGAPORE, Jan 13 (Reuters) - Asia-focused private equity firm PAG said on Monday that it has acquired a majority stake in Indian pharmaceutical packaging company Pravesha Industries, according to a statement.
Financial details were not disclosed in the statement. A source with knowledge of the matter said the deal gave Pravesha an enterprise value of $200 million.
PAG and Pravesha declined to comment.
"India's packaging sector has been one of our focuses, given its exposure to key themes driven by India's domestic manufacturing, consumer and industrial sectors," Nikhil Srivastava, managing director and head of India private equity, PAG's partner, said in the statement.
Founded in 1999, Pravesha produces over 15,000 metric tons of plastic bottles, closures and drums and more than two billion units of cartons, labels and leaflets annually for some of the world's largest pharmaceutical companies, the statement showed.
Meanwhile, PAG said it has also signed definitive documents to invest in an Indian rigid plastic packaging company, Manjushree Technopack Ltd MANT.M3, without disclosing financial details.
PAG has been investing in India since 2009 and currently manages over $3 billion in assets in the country, counting Nuvama Wealth Management NUVA.NS and Sekhmet Pharmaventures among its investments there, the statement showed.
PAG, whose private equity arm is led by seasoned Chinese dealmaker Shan Weijian, manages more than $55 billion in capital ranging from private equity to credit, according to its website.
(Reporting by Kane Wu in Hong Kong and Yantoultra Ngui in Singapore; Editing by Michael Perry)
(([email protected];))
India's Nuvama Wealth falls on report of block deals at discount
** Shares of Nuvama Wealth Management NUVA.NS slip 5.7% to 6,878 rupees
** Edel Finance and Ecap Equities have launched 17.3 billion rupees ($203.9 million) block share sale at floor price of 6,800 rupees, 6.8% discount to prev close, IFR reports
** Edel Finance, Ecap Equities exiting NUVA - IFR
** Edel Finance and Ecap Equities hold 3.74% and 3.58% in co, respectively
** About 4.3 mln shares change hands in most active session ever
** Nuvama Wealth did not immediately respond to Reuters request for comments on block deals
** NUVA shares up 91% YTD
($1 = 84.8650 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Shares of Nuvama Wealth Management NUVA.NS slip 5.7% to 6,878 rupees
** Edel Finance and Ecap Equities have launched 17.3 billion rupees ($203.9 million) block share sale at floor price of 6,800 rupees, 6.8% discount to prev close, IFR reports
** Edel Finance, Ecap Equities exiting NUVA - IFR
** Edel Finance and Ecap Equities hold 3.74% and 3.58% in co, respectively
** About 4.3 mln shares change hands in most active session ever
** Nuvama Wealth did not immediately respond to Reuters request for comments on block deals
** NUVA shares up 91% YTD
($1 = 84.8650 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Nuvama Wealth Management Says NWIL Got Warning By NSE To Ensure Non-Recurrence Of Observation
Nov 27 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT - NWIL GOT WARNING BY NSE TO ENSURE NON-RECURRENCE OF OBSERVATION
NUVAMA WEALTH - NSE'S APPREHENSION THAT NWIL FACILITATED CLIENT TRANSACTIONS THROUGH GROUP CO
Further company coverage: NUVA.NS
(([email protected];))
Nov 27 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT - NWIL GOT WARNING BY NSE TO ENSURE NON-RECURRENCE OF OBSERVATION
NUVAMA WEALTH - NSE'S APPREHENSION THAT NWIL FACILITATED CLIENT TRANSACTIONS THROUGH GROUP CO
Further company coverage: NUVA.NS
(([email protected];))
Nuvama Wealth Management Sept-Quarter Consol Net Profit 2.58 Billion Rupees
Oct 25 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
SEPT-QUARTER CONSOL NET PROFIT 2.58 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.51 BILLION RUPEES
DIVIDEND OF 63 RUPEES PER SHARE
Source text for Eikon: ID:nNSE3yBCKW
Further company coverage: NUVA.NS
(([email protected];))
Oct 25 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
SEPT-QUARTER CONSOL NET PROFIT 2.58 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.51 BILLION RUPEES
DIVIDEND OF 63 RUPEES PER SHARE
Source text for Eikon: ID:nNSE3yBCKW
Further company coverage: NUVA.NS
(([email protected];))
Nuvama Wealth Management Says SEBI Has Issued Administrative Warning
Oct 8 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT LTD - SEBI HAS ISSUED AN ADMINISTRATIVE WARNING
NUVAMA WEALTH MANAGEMENT - WARNING ABOUT INSPECTION CARRIED OUT FOR MERCHANT BANKING ACTIVITIES
Source text for Eikon: ID:nBSE3KFVDY
Further company coverage: NUVA.NS
(([email protected];))
Oct 8 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT LTD - SEBI HAS ISSUED AN ADMINISTRATIVE WARNING
NUVAMA WEALTH MANAGEMENT - WARNING ABOUT INSPECTION CARRIED OUT FOR MERCHANT BANKING ACTIVITIES
Source text for Eikon: ID:nBSE3KFVDY
Further company coverage: NUVA.NS
(([email protected];))
Nuvama Wealth Management June-Quarter Consol Net Profit 2.21 Bln Rupees
July 26 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT LTD - DIVIDEND 81.50 RUPEES PER SHARE
NUVAMA WEALTH MANAGEMENT JUNE-QUARTER CONSOL NET PROFIT 2.21 BILLION RUPEES
NUVAMA WEALTH MANAGEMENT JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 9.49 BILLION RUPEES
Source text for Eikon: ID:nNSE21fpGH
Further company coverage: NUVA.NS
(([email protected];))
July 26 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH MANAGEMENT LTD - DIVIDEND 81.50 RUPEES PER SHARE
NUVAMA WEALTH MANAGEMENT JUNE-QUARTER CONSOL NET PROFIT 2.21 BILLION RUPEES
NUVAMA WEALTH MANAGEMENT JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 9.49 BILLION RUPEES
Source text for Eikon: ID:nNSE21fpGH
Further company coverage: NUVA.NS
(([email protected];))
Nuvama Wealth And Investment June-Quarter Net Pat 422.6 MLn Rupees
July 22 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH AND INVESTMENT JUNE-QUARTER NET PAT 422.6 MILLION RUPEES
NUVAMA WEALTH AND INVESTMENT JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 3.80 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: NUVA.NS
(([email protected];))
July 22 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
NUVAMA WEALTH AND INVESTMENT JUNE-QUARTER NET PAT 422.6 MILLION RUPEES
NUVAMA WEALTH AND INVESTMENT JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 3.80 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: NUVA.NS
(([email protected];))
Indian airlines, brokerages affected by global IT outage
By Jayshree P Upadhyay and Jaspreet Kalra
MUMBAI, July 19 (Reuters) - Indian airlines and some brokerages faced technical and operational disruptions on Friday amid a global IT outage, multiple traders and airlines said.
Several major oil and gas trading desks in London and Singapore were struggling to execute trades due to a cyber outage, six industry sources told Reuters. LSEG Group's LSEG.L Workspace news and data platform also suffered an outage, affecting user access worldwide.
"We are currently experiencing technical challenges with our service provider, affecting online services including booking, check-in, and manage booking functionalities," SpiceJet SPJT.BO said on social media platform X.
Indigo, Akasa Air, Vistara, Air India and Air India Express also posted messages on X saying they were facing issues.
New Delhi airport said it too faced some IT issues and some services were temporarily affected.
Among the brokerages in India, Nuvama Wealth Management NUVA.NS, Edelweiss Mutual Fund, Motilal Oswal, IIFL Securities IIFS.NS, 5Paisa Capital PAIS.NS and Angel Broking are facing technical difficulties, traders at the brokerages told Reuters.
None of the brokerages responded to emails seeking confirmation and comment.
India's interbank trading platforms were functioning, however, and banks said they were able to execute bonds and foreign exchange transactions without any issues.
A source at the country's central bank said they were aware of the global outage but their systems were functional.
Widespread outages affecting banks, telecom networks and media were reported in Australia, possibly linked to an issue at global cybersecurity firm Crowdstrike CRWD.O. Major U.S. airlines also issued ground stops citing communications issues.
Crowdstrike ran a recorded phone message on Friday saying it was aware of reports of crashes on Microsoft's MSFT.O Windows operating system relating to its Falcon sensor.
(Reporting by Jayshree P Upadhyay and Jaspreet Kalra; Writing by Swati Bhat; Editing by Tom Hogue)
(([email protected]; twitter.com/swatibhat22; Reuters Messaging: [email protected]))
By Jayshree P Upadhyay and Jaspreet Kalra
MUMBAI, July 19 (Reuters) - Indian airlines and some brokerages faced technical and operational disruptions on Friday amid a global IT outage, multiple traders and airlines said.
Several major oil and gas trading desks in London and Singapore were struggling to execute trades due to a cyber outage, six industry sources told Reuters. LSEG Group's LSEG.L Workspace news and data platform also suffered an outage, affecting user access worldwide.
"We are currently experiencing technical challenges with our service provider, affecting online services including booking, check-in, and manage booking functionalities," SpiceJet SPJT.BO said on social media platform X.
Indigo, Akasa Air, Vistara, Air India and Air India Express also posted messages on X saying they were facing issues.
New Delhi airport said it too faced some IT issues and some services were temporarily affected.
Among the brokerages in India, Nuvama Wealth Management NUVA.NS, Edelweiss Mutual Fund, Motilal Oswal, IIFL Securities IIFS.NS, 5Paisa Capital PAIS.NS and Angel Broking are facing technical difficulties, traders at the brokerages told Reuters.
None of the brokerages responded to emails seeking confirmation and comment.
India's interbank trading platforms were functioning, however, and banks said they were able to execute bonds and foreign exchange transactions without any issues.
A source at the country's central bank said they were aware of the global outage but their systems were functional.
Widespread outages affecting banks, telecom networks and media were reported in Australia, possibly linked to an issue at global cybersecurity firm Crowdstrike CRWD.O. Major U.S. airlines also issued ground stops citing communications issues.
Crowdstrike ran a recorded phone message on Friday saying it was aware of reports of crashes on Microsoft's MSFT.O Windows operating system relating to its Falcon sensor.
(Reporting by Jayshree P Upadhyay and Jaspreet Kalra; Writing by Swati Bhat; Editing by Tom Hogue)
(([email protected]; twitter.com/swatibhat22; Reuters Messaging: [email protected]))
India road developers should diversify, says Nuvama
** Indian road developers must work to diversify across segments since "their ability to win adequate road orders at desired margins" is "under question", says brokerage Nuvama
** Brokerage flags high competition and ordering activity lull in first two months of FY25
** Road construction declined 12% y/y in April-May period with no new projects from National Highways Authority of India (NHAI) - note
** Nuvama says interim budget's 3% y/y rise in road capex is "muted" and "accentuates the concerns on road awards"
** Brokerage prefers PNC Infratech PNCI.NS for "robust balance sheet", stock up 2.2% on the day
** Rivals IRB Infrastructure Developers IRBI.NS and Dilip Buildcon DIBL.NS up 0.4% and 0.8% respectively
** Road capex allocation in July budget to "watch out for"; with elections behind, muted road ordering trend seen in FY24 may change by end-FY25 - note
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Indian road developers must work to diversify across segments since "their ability to win adequate road orders at desired margins" is "under question", says brokerage Nuvama
** Brokerage flags high competition and ordering activity lull in first two months of FY25
** Road construction declined 12% y/y in April-May period with no new projects from National Highways Authority of India (NHAI) - note
** Nuvama says interim budget's 3% y/y rise in road capex is "muted" and "accentuates the concerns on road awards"
** Brokerage prefers PNC Infratech PNCI.NS for "robust balance sheet", stock up 2.2% on the day
** Rivals IRB Infrastructure Developers IRBI.NS and Dilip Buildcon DIBL.NS up 0.4% and 0.8% respectively
** Road capex allocation in July budget to "watch out for"; with elections behind, muted road ordering trend seen in FY24 may change by end-FY25 - note
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
India's Allied Blenders and Distillers files for $180 mln IPO
BENGALURU, June 19 (Reuters) - Indian liquor company Allied Blenders and Distillers (ABD) on Wednesday filed for an initial public offering (IPO) to raise up to $180 million, amid intensifying competition in a market dominated by the likes of Diageo DGE.L and Pernod Ricard PERP.PA.
ABD, which sells whisky brands such as Officer's Choice and Sterling Reserve in India's estimated $33 billion spirits market, said it would issue new shares worth up to 10 billion rupees ($120 million) as a part of the offering.
The company aims to use proceeds from that sale to reduce some of its outstanding borrowings, it said.
Meanwhile, existing shareholders in the firm will sell shares worth up to 5 billion rupees, ABD added.
As of the end of March 2023, the liquor maker's total liabilities had risen roughly 13% year-over-year. Over the same period, its consolidated revenue dipped 1.3% while profit after tax increased 8.5%.
ICICI Securities, Nuvama and ITI Capital are book-running lead managers to ABD's IPO.
India has smashed records at home and globally for the number of its IPOs, at a time when the domestic equity market has surged to all-time highs on economic growth prospects and a vast consumer base, making it an attractive destination for companies and investors.
Last week, South Korean carmaker Hyundai Motor 005380.KS filed draft papers for listing its Indian unit, which could be the country's largest public flotation.
($1 = 83.4135 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mark Potter)
(([email protected]; X: @MukherjeeHritam;))
BENGALURU, June 19 (Reuters) - Indian liquor company Allied Blenders and Distillers (ABD) on Wednesday filed for an initial public offering (IPO) to raise up to $180 million, amid intensifying competition in a market dominated by the likes of Diageo DGE.L and Pernod Ricard PERP.PA.
ABD, which sells whisky brands such as Officer's Choice and Sterling Reserve in India's estimated $33 billion spirits market, said it would issue new shares worth up to 10 billion rupees ($120 million) as a part of the offering.
The company aims to use proceeds from that sale to reduce some of its outstanding borrowings, it said.
Meanwhile, existing shareholders in the firm will sell shares worth up to 5 billion rupees, ABD added.
As of the end of March 2023, the liquor maker's total liabilities had risen roughly 13% year-over-year. Over the same period, its consolidated revenue dipped 1.3% while profit after tax increased 8.5%.
ICICI Securities, Nuvama and ITI Capital are book-running lead managers to ABD's IPO.
India has smashed records at home and globally for the number of its IPOs, at a time when the domestic equity market has surged to all-time highs on economic growth prospects and a vast consumer base, making it an attractive destination for companies and investors.
Last week, South Korean carmaker Hyundai Motor 005380.KS filed draft papers for listing its Indian unit, which could be the country's largest public flotation.
($1 = 83.4135 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mark Potter)
(([email protected]; X: @MukherjeeHritam;))
Nuvama Wealth Management Says Nuvama Group Appoints Bharat Kalsi As New Group CFO
May 21 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
APPOINTS BHARAT KALSI AS NEW GROUP CFO
Source text for Eikon: ID:nBSEb7w5M0
Further company coverage: NUVA.NS
(([email protected];))
May 21 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
APPOINTS BHARAT KALSI AS NEW GROUP CFO
Source text for Eikon: ID:nBSEb7w5M0
Further company coverage: NUVA.NS
(([email protected];))
India's Nuvama Wealth rises after Q4 profit rise
** Shares of Nuvama Wealth Management NUVA.NS up 3.7% to 5,212 rupees, their biggest intraday gain since April 12
** Brokerage services provider's Q4 consol net profit more than doubled to 1.81 billion rupees ($21.67 million)
** Total rev rose 51.34%
** More than 80,000 shares traded, 1.3x its 30-day avg
** Stock up 44% so far this year
($1 = 83.5226 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Nuvama Wealth Management NUVA.NS up 3.7% to 5,212 rupees, their biggest intraday gain since April 12
** Brokerage services provider's Q4 consol net profit more than doubled to 1.81 billion rupees ($21.67 million)
** Total rev rose 51.34%
** More than 80,000 shares traded, 1.3x its 30-day avg
** Stock up 44% so far this year
($1 = 83.5226 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
India's Jio Financial gains on wealth management JV with BlackRock
** Shares of Jio Financial Services JIOF.NS up 3.8% at 367.50 rupees
** Co said on Monday it entered into new joint venture with BlackRock BLK.N to set up a wealth management and broking business in India
** Indian wealth management, brokerage stocks mostly shrug off JIOF's entry into the segment
** Shares of 360 One Wam ONEW.NS, IIFL Finance IIFL.NS, Angel One ANGO.NS and Motilal Oswal Financial Services MOFS.NS up between 0.1% and 1.5%; Nuvama Wealth Management NUVA.NS down 0.8%
** JIOF up more than 59% YTD vs 2.4% drop in Nifty financial index .NIFTYFIN
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Shares of Jio Financial Services JIOF.NS up 3.8% at 367.50 rupees
** Co said on Monday it entered into new joint venture with BlackRock BLK.N to set up a wealth management and broking business in India
** Indian wealth management, brokerage stocks mostly shrug off JIOF's entry into the segment
** Shares of 360 One Wam ONEW.NS, IIFL Finance IIFL.NS, Angel One ANGO.NS and Motilal Oswal Financial Services MOFS.NS up between 0.1% and 1.5%; Nuvama Wealth Management NUVA.NS down 0.8%
** JIOF up more than 59% YTD vs 2.4% drop in Nifty financial index .NIFTYFIN
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India's NTPC hits record high on report unit picks banks to manage $1.20 bln IPO
** Shares of power generator NTPC NTPC.NS rise as much as 3.3% to a record 374.5 rupees
** Co's unit NTPC Green Energy shortlists IDBI Capital Markets and Securities, HDFC Bank HDBK.NS, IIFL Securities IIFS.NS and Nuvama Wealth Management NUVA.NS to manage its 100 bln rupees ($1.20 bln) IPO- report
** NTPC did not immediately respond to Reuters request for comment
** Stock among top gainers on Nifty 50 index .NSEI, which is down 0.3%; reverses course after falling for two straight sessions
** It is trading above its 200-day simple moving avg since July 6, volumes at 25.1 mln shares- 2.7x the 30-day avg
** Inlcuding session's gains, stock up ~18% YTD, peers Torrent Power TOPO.NS and Tata Power TTPW.NS up 71% and 33%, respectively
** Analysts avg rating on NTPC stock is "Buy", TOPO is rated "Sell", while TTPW is rated "Hold"- LSEG
($1 = 83.3660 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Shares of power generator NTPC NTPC.NS rise as much as 3.3% to a record 374.5 rupees
** Co's unit NTPC Green Energy shortlists IDBI Capital Markets and Securities, HDFC Bank HDBK.NS, IIFL Securities IIFS.NS and Nuvama Wealth Management NUVA.NS to manage its 100 bln rupees ($1.20 bln) IPO- report
** NTPC did not immediately respond to Reuters request for comment
** Stock among top gainers on Nifty 50 index .NSEI, which is down 0.3%; reverses course after falling for two straight sessions
** It is trading above its 200-day simple moving avg since July 6, volumes at 25.1 mln shares- 2.7x the 30-day avg
** Inlcuding session's gains, stock up ~18% YTD, peers Torrent Power TOPO.NS and Tata Power TTPW.NS up 71% and 33%, respectively
** Analysts avg rating on NTPC stock is "Buy", TOPO is rated "Sell", while TTPW is rated "Hold"- LSEG
($1 = 83.3660 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
Jefferies initiates India's 360 One Wam, Nuvama with buy; stocks rise
** Jefferies initiates coverage on Indian wealth management co stocks 360 One Wam ONEW.NS and Nuvama Wealth Management NUVA.NS with "buy"
** ONEW shares up as much as 3.9% at 748.40 rupees, while NUVA rises as much as 6% to record high of 5,350 rupees
** Indian wealth managers are well-placed to ride on country's economic growth, financialization of savings into capital markets, brokerage says
** Jefferies says 360 One is largest wealth manager with ultra-high net worth individuals focus, while Nuvama has diversified platform with growing wealth franchise
** Brokerage has street-high PT of 900 rupees for ONEW and 6,000 rupees for NUVA
** Jefferies says leading wealth managers would see 20%-22% profit CAGR over FY24-27E
** ONEW rated "strong buy" with median PT 748.50 rupees - LSEG data
** ONEW up 4% YTD, while NUVA up 48%
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Jefferies initiates coverage on Indian wealth management co stocks 360 One Wam ONEW.NS and Nuvama Wealth Management NUVA.NS with "buy"
** ONEW shares up as much as 3.9% at 748.40 rupees, while NUVA rises as much as 6% to record high of 5,350 rupees
** Indian wealth managers are well-placed to ride on country's economic growth, financialization of savings into capital markets, brokerage says
** Jefferies says 360 One is largest wealth manager with ultra-high net worth individuals focus, while Nuvama has diversified platform with growing wealth franchise
** Brokerage has street-high PT of 900 rupees for ONEW and 6,000 rupees for NUVA
** Jefferies says leading wealth managers would see 20%-22% profit CAGR over FY24-27E
** ONEW rated "strong buy" with median PT 748.50 rupees - LSEG data
** ONEW up 4% YTD, while NUVA up 48%
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India's Nuvama Wealth hits record high as Q3 profit rises two-fold
** Shares of Nuvama Wealth Management NUVA.NS rise as much as 14.3% to a record high of 3,898 rupees
** Brokerage services provider reported a two-fold surge in Q3 consol net profit
** Co aided by income from its capital markets business
** Stock has gained ~43% since listing in Sept.
** More than 410,000 shares change hands, 7x its 30-day avg, stock eyes most active trading session since Nov. 13
** Stock gained 49% in Q3
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
** Shares of Nuvama Wealth Management NUVA.NS rise as much as 14.3% to a record high of 3,898 rupees
** Brokerage services provider reported a two-fold surge in Q3 consol net profit
** Co aided by income from its capital markets business
** Stock has gained ~43% since listing in Sept.
** More than 410,000 shares change hands, 7x its 30-day avg, stock eyes most active trading session since Nov. 13
** Stock gained 49% in Q3
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
Elpro International Acquires Equity Shares Of Nuvama Wealth Management
Jan 23 (Reuters) - Elpro International Ltd ELPR.BO:
ACQUIRED EQUITY SHARES OF NUVAMA WEALTH MANAGEMENT
Source text for Eikon: ID:nBSEbpGgkf
Further company coverage: ELPR.BO
(([email protected];))
Jan 23 (Reuters) - Elpro International Ltd ELPR.BO:
ACQUIRED EQUITY SHARES OF NUVAMA WEALTH MANAGEMENT
Source text for Eikon: ID:nBSEbpGgkf
Further company coverage: ELPR.BO
(([email protected];))
Elpro International Acquires Equity Shares Of E.I.D. - Parry (India) And Nuvama Wealth Management
Jan 17 (Reuters) - E I D-Parry (India) Ltd EIDP.NS:
ACQUIRED EQUITY SHARES OF E.I.D. - PARRY (INDIA) AND NUVAMA WEALTH MANAGEMENT
COST OF ACQUISITION OF STAKE IN E.I.D. PARRY (INDIA) AT 35.6 MILLION RUPEES
COST OF ACQUISITION OF STAKE IN NUVAMA WEALTH MANAGEMENT AT 50.3 MILLION RUPEES
Source text for Eikon: ID:nBSEdWqbc
Further company coverage: EIDP.NS
(([email protected];))
Jan 17 (Reuters) - E I D-Parry (India) Ltd EIDP.NS:
ACQUIRED EQUITY SHARES OF E.I.D. - PARRY (INDIA) AND NUVAMA WEALTH MANAGEMENT
COST OF ACQUISITION OF STAKE IN E.I.D. PARRY (INDIA) AT 35.6 MILLION RUPEES
COST OF ACQUISITION OF STAKE IN NUVAMA WEALTH MANAGEMENT AT 50.3 MILLION RUPEES
Source text for Eikon: ID:nBSEdWqbc
Further company coverage: EIDP.NS
(([email protected];))
Nuvama Wealth Management To Consider Proposal To Raise Funds Through Issue Of Non-Convertible Debentures
Jan 16 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
TO CONSIDER PROPOSAL TO RAISE FUNDS THROUGH ISSUE OF NON-CONVERTIBLE DEBENTURES
TO CONSIDER RAISE FUNDS VIA ISSUE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
Source text for Eikon: ID:nBSE8xK2bT
Further company coverage: NUVA.NS
(([email protected];))
Jan 16 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
TO CONSIDER PROPOSAL TO RAISE FUNDS THROUGH ISSUE OF NON-CONVERTIBLE DEBENTURES
TO CONSIDER RAISE FUNDS VIA ISSUE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
Source text for Eikon: ID:nBSE8xK2bT
Further company coverage: NUVA.NS
(([email protected];))
Nuvama Wealth Management Says Unit, Cushman & Wakefield Aim To Raise 30 Billion Rupees Commercial Real Estate Fund
Jan 10 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
CO, CUSHMAN & WAKEFIELD AIM TO RAISE 30 BILLION RUPEES COMMERCIAL REAL ESTATE FUND THROUGH JOINT VENTURE
Source text for Eikon: ID:nBSE70fMs6
Further company coverage: NUVA.NS
(([email protected];))
Jan 10 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
CO, CUSHMAN & WAKEFIELD AIM TO RAISE 30 BILLION RUPEES COMMERCIAL REAL ESTATE FUND THROUGH JOINT VENTURE
Source text for Eikon: ID:nBSE70fMs6
Further company coverage: NUVA.NS
(([email protected];))
Nuvama Wealth Management Says Unit Gets Tax Order Amounting To 132.5 Mln Rupees
Jan 5 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
UNIT GETS TAX ORDER AMOUNTING TO 132.5 MILLION RUPEES
Further company coverage: NUVA.NS
(([email protected];))
Jan 5 (Reuters) - Nuvama Wealth Management Ltd NUVA.NS:
UNIT GETS TAX ORDER AMOUNTING TO 132.5 MILLION RUPEES
Further company coverage: NUVA.NS
(([email protected];))
India's Nuvama Wealth surges to record high after Citi initiates coverage with "buy"
** Shares of Nuvama Wealth Management NUVA.NS rise as much as 8.63% to a record high of 3,450 rupees
** Citi Research initiates coverage of the wealth manager with "buy"; PT set at 4,110 rupees, an implied upside of 33.5% over the last close
** Citi says NUVA in a sweet spot to leverage growing formalisation of wealth management in India; sees NUVA as top pick in the sector besides 360 One Wam ONEW.NS
** Adds, multi-product/open architecture-based distribution model in wealth, multi-customer focus including established presence of ultra high net-worth individuals (UHNIs) and strong product pipeline are key positives
** Trading volume was at 284,412 shares as of 3:06 p.m. IST, 2.3 times the 30-day avg - LSEG data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of Nuvama Wealth Management NUVA.NS rise as much as 8.63% to a record high of 3,450 rupees
** Citi Research initiates coverage of the wealth manager with "buy"; PT set at 4,110 rupees, an implied upside of 33.5% over the last close
** Citi says NUVA in a sweet spot to leverage growing formalisation of wealth management in India; sees NUVA as top pick in the sector besides 360 One Wam ONEW.NS
** Adds, multi-product/open architecture-based distribution model in wealth, multi-customer focus including established presence of ultra high net-worth individuals (UHNIs) and strong product pipeline are key positives
** Trading volume was at 284,412 shares as of 3:06 p.m. IST, 2.3 times the 30-day avg - LSEG data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's Nuvama Wealth hits record high after Q2 profit surges 70%
** Shares of Nuvama Wealth Management NUVA.NS jump as much as 8.6% to a record high of 2,947.85 rupees
** NUVA posts a 70.3% surge in Q2 consolidated net profit and a 30.7% rise in total revenue from operations on higher interest income
** Co says client assets under wealth management business grew 21% YoY to 2.17 trln rupees ($26.07 bln), as at Q2 end
** With financial wealth seen doubling in the next 5-6 years, co expects to see robust growth in organised wealth management - NUVA
** If gains hold, stock on track to rise for a fourth straight session
** As of last close, NUVA stock up 3.9% since debut on Sept 26
($1 = 83.2500 Indian rupees)
(Reporting by Rama Venkat in Bengaluru)
** Shares of Nuvama Wealth Management NUVA.NS jump as much as 8.6% to a record high of 2,947.85 rupees
** NUVA posts a 70.3% surge in Q2 consolidated net profit and a 30.7% rise in total revenue from operations on higher interest income
** Co says client assets under wealth management business grew 21% YoY to 2.17 trln rupees ($26.07 bln), as at Q2 end
** With financial wealth seen doubling in the next 5-6 years, co expects to see robust growth in organised wealth management - NUVA
** If gains hold, stock on track to rise for a fourth straight session
** As of last close, NUVA stock up 3.9% since debut on Sept 26
($1 = 83.2500 Indian rupees)
(Reporting by Rama Venkat in Bengaluru)
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What does Nuvama Wealth do?
Nuvama Wealth Management Limited, a flagship company of the Nuvama group, primarily focuses on broking and trading in equity securities, including derivatives and currencies, for institutional and non-institutional clients in India.
Who are the competitors of Nuvama Wealth?
Nuvama Wealth major competitors are Anand Rathi Wealth, 360 One Wam, Prudent Corporate, Sera Investments&Fin, Nidhi Granites, Delphi World Money, Max Financial. Market Cap of Nuvama Wealth is ₹26,385 Crs. While the median market cap of its peers are ₹11,658 Crs.
Is Nuvama Wealth financially stable compared to its competitors?
Nuvama Wealth seems to be less financially stable compared to its competitors. Altman Z score of Nuvama Wealth is 1.87 and is ranked 7 out of its 8 competitors.
Does Nuvama Wealth pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Nuvama Wealth latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Nuvama Wealth allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is Nuvama Wealth balance sheet?
Balance sheet of Nuvama Wealth is moderately strong.
Is the profitablity of Nuvama Wealth improving?
Yes, profit is increasing. The profit of Nuvama Wealth is ₹978 Crs for TTM, ₹625 Crs for Mar 2024 and ₹305 Crs for Mar 2023.
Is the debt of Nuvama Wealth increasing or decreasing?
The net debt of Nuvama Wealth is decreasing. Latest net debt of Nuvama Wealth is -₹19,126.26 Crs as of Mar-25. This is less than Mar-24 when it was -₹18,480.86 Crs.
Is Nuvama Wealth stock expensive?
Nuvama Wealth is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of Nuvama Wealth is 26.76, while 3 year average PE is 23.02. Also latest EV/EBITDA of Nuvama Wealth is 3.28 while 3yr average is 5.7.
Has the share price of Nuvama Wealth grown faster than its competition?
Nuvama Wealth has given better returns compared to its competitors. Nuvama Wealth has grown at ~66.04% over the last 1yrs while peers have grown at a median rate of 61.87%
Is the promoter bullish about Nuvama Wealth?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Nuvama Wealth is 54.78% and last quarter promoter holding is 54.93%
Are mutual funds buying/selling Nuvama Wealth?
The mutual fund holding of Nuvama Wealth is increasing. The current mutual fund holding in Nuvama Wealth is 4.62% while previous quarter holding is 3.47%.