Latest news with #NuvamaWealth
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Business Standard
7 days ago
- Business
- Business Standard
Nuvama, 360One Wealth, Anand Rathi Wealth: Bernstein bets on asset managers
Global research and broking firm Bernstein has turned bullish on asset / wealth managers – Nuvama, 360One Wealth (outperform rating for both) and Anand Rathi Wealth (Market-Perform rating) as it bets on the growing wealth of Indians. Wealth management in an emerging market (EM), Bernstein said in a recent report, may appear to be an oxymoron, but the rising wealth of India's uber-rich (over $2.7 trillion at the last count) provides the perfect pathway for a multi-year secular scale-up opportunity for the organised wealth managers. Household wealth, according to the Bernstein report, is highly concentrated in India – top 1 per cent households controlling around 60 per cent of the total wealth in India. Although growth will continue to create opportunities across the pyramid, Bernstein thinks the rich will get richer over time. Uber-rich Indians India's uber-rich – an estimated around 3 million households - hold $2.7 trillion in liquid financial wealth, by Bsrnstein's estimates. Until now, most wealth was self-managed, or managed by unorganised players. This, their analysts feel, will change as rising return expectations, product complexity will trigger demand for professional advice going ahead. 'We see specialised wealth managers benefiting, with a long growth runway. We expect specialised wealth managers to expand from $300 billion in assets under management (AUM) to $1.6 trillion over the next decade, implying an over 18 per cent compounded annual growth rate (CAGR),' wrote Manas Agrawal and Himank Sangai of Bernstein in a recent note. At the bourses, meanwhile, Anand Rathi Wealth and Nuvama Wealth have outperformed the Sensex (up around 6 per cent) thus far in calendar year 2025 (CY25) with a gain of 36 per cent and 12 per cent, respectively. 360 One Wam, however, lost 10 per cent during this period, ACE Equity data shows. Wealth distribution in India At a macro level, the wealth management industry, Bernstein feels, is seeing early movers scale up. This surge, it said, is reminiscent of the advent of private banks in India during the late 1990s - a period that set the stage for one of the most significant episodes of value creation. 'Over the long term, the industry will consolidate, with a handful of dominant players emerging ahead of a long-tail of smaller players. We favor wealth managers with a higher proportion of distribution business, as this segment delivers predictable and sticky growth,' Agrawal and Sangai wrote. Stock strategy Among the lot, Nuvama Wealth is Bernstein's top pick (12-month target price Rs 9,790; upside 26 per cent) given the road ahead for its wealth management for high/ultra-high net worth clients, clearing services, and asset management business verticals. 'While near-term headwinds are expected due to ongoing regulatory actions impacting one large client, we remain positive on medium-term growth, expecting around 25 per cent profit growth and 29 per cent return on equity (RoE) beyond a softer FY26,' the note said. The recent move to expand beyond top cities and into the large HNI space with acquisitions and a strategic partnership with UBS augurs well for 360One Wealth (12-month target price Rs 1,410; upside 23 per cent), Bernstein said, and expects around 20 per cent pre-tax profit growth, with RoE at nearly 20 per cent by FY28, despite the drag from equity infusion/issuance. 'Anand Rathi Wealth (12-month target price Rs 2,580; downside 2 per cent) demonstrates robust profit growth (26 per cent) and 40 per cent+ ROE, but its reliance on market-linked debentures for over half its revenue raises concerns on risk and valuation. While attractive for clients and distributors, the need for careful hedging means any risk management flaw could impact growth for the distribution business,' Agrawal and Sangai said.
Bloomberg
18-07-2025
- Business
- Bloomberg
Axis Bank Shares Tumble as Provisions Climb, Profit Disappoints
Axis Bank Ltd. 's shares fell the most in a year on Friday after the Indian lender reported first-quarter net income that was sharply below analysts' expectations, driven by a surge in provisions for bad loans. The stock declined as much as 7.4% in Mumbai trading — the most since June 2024 — as the disappointing results prompted rating downgrades from JPMorgan Chase & Co. and Nuvama Wealth Management Ltd., along with a raft of cuts to 12-month forward price targets by brokerages.
Time of India
14-07-2025
- Business
- Time of India
Stocks to buy or sell today: Voltas, REC among 6 trading ideas for 14 July 2025
The Indian market is likely to consolidate on Monday, tracking muted global cues. The Nifty future closed negatively with losses of 0.84% at 25208 levels. India VIX rose 1.2% to close at 11.82 in the previous session. On the options front, the maximum Call OI is placed at 25,500 and then towards 25,300 strikes while the maximum Put OI is placed at 25,000 and then towards 25,100 strikes. Call writing is seen at 25,300 and then at 25,200 strikes, while Put writing is seen at 25,000 and then towards 25,2000 strikes. 'Options data suggests a broader trading range in between 24,600 to 25,600 zones while an immediate range between 24,900 to 25,400 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited , said. The Nifty50 index broke its immediate support levels and sank below the 25,150 zone last week. It failed to sustain above 25550 and witnessed price and time correction for most of the week gone by. 'It formed a bearish candle on the daily and weekly frame on Friday and has been forming a lower top-lower bottom structure on the lower time frame, indicating some selling pressure,' added Taparia. 'Now if Nifty holds below 25,222 zones, then weakness could be seen towards 25,000, then 24,800 zones while hurdles are shifting lower at 25,300, then 25,450 zones,' he recommended. We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Aakash Hindocha, Technical Analyst, Research at Nuvama Wealth told ETBureau Voltas Ltd: Buy| Target Rs 1500| Stop Loss Rs 1325 Allied Builders & Distillers Ltd : Buy| Target Rs 482| Stop Loss Rs 430 REC: Buy| Target Rs 430| Stop Loss Rs 389 Expert: Sharan Lillaney, Independent SEBI Research Analyst Piramal Enterprises Ltd: Buy| Target Rs 1290| Stop Loss Rs 1157 Whirlpool Ltd : Buy| Target Rs 1432| Stop Loss Rs 1312 BHEL : Sell| Target Rs 254| Stop Loss Rs 264 ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
News18
04-07-2025
- Entertainment
- News18
‘Kill Bill' Actor Michael Madsen Passes Away At 67 Due To Cardiac Arrest
Anshula Kapoor Engaged To Rohan Thakkar: Their Love Story, Dating Timeline & All You Need To Know Nayanthara, Vignesh Shivan & Twins Visit Palani Murugan Temple Together | Spiritual Trip Highlights trending news Breathe Your Way To Better Focus: Expert Decodes The Science Of Mindful Breathing BPSC 71st CCE 2025 Prelims Exam Date Changed, Check Revised Schedule Here Vashu Bhagnani Regrets Making Bade Miyan Chote Miyan With Ali Abbas Zafar: 'Made The Biggest Mistake' Stocks of Nuvama Wealth, Angel One, BSE tumble amid Jane Street controversy latest news
Reuters
04-07-2025
- Business
- Reuters
Shares of Indian brokers, BSE drop as regulator bars Jane Street
July 4 (Reuters) - Shares of some Indian stockbrokers and market intermediaries fell on Friday after the country's securities regulator barred U.S. trading firm Jane Street from the local market over alleged manipulation in derivatives trading. The Securities and Exchange Board of India (SEBI), in an interim order dated July 3, stated that Jane Street, one of the world's largest quant trading firms, would no longer be able to participate in the domestic securities market. The order is based on SEBI's initial investigation, and the ban will stay in place till a final order is issued after the completion of the investigation. Jane Street, in an emailed response, disputed the findings of the SEBI interim order and said it will further engage with the regulator. Angel One ( opens new tab, one of India's top brokerage firms, slumped 6%. Stock exchange BSE ( opens new tab was trading 6.4% lower and Central Depository Services (India) ( opens new tab fell 3.5%. Nuvama Wealth Management ( opens new tab, which is Jane Street's India trading partner, fell more than 9%. The company did not respond to a Reuters request for a comment. Equity benchmarks Nifty 50 (.NSEI), opens new tab and BSE Sensex (.BSESN), opens new tab were trading flat on Friday afternoon. Some analysts said the regulator's action could impact derivative volumes in the near term, which triggered a drop in the shares of market participants. "We may see some nervousness or pain in the short term in terms of volumes. But market integrity is crucial from a longer-term perspective as it (the regulatory action) helps build confidence among traders," said UR Bhat, co-founder of Alphaniti Fintech. Derivatives trading is booming in India, where participation of retail traders has skyrocketed. In a study last year, SEBI said retail traders made net losses totalling $21.7 billion in futures and options trading in the three years to March 2024. Most of the profits were generated by larger entities that used trading algorithms, with 97% of foreign investors' profits and 96% of proprietary traders' profits coming from algorithmic trading, SEBI said. "We've already seen average premium turnover on the NSE and the BSE come down 17% and 13%, respectively, in June", when it became known that SEBI was investigating Jane Street, said Amit Chandra, vice president at HDFC Securities. "What we are seeing now is a more realistic volume that we can expect and it will take some time for volumes to go up from here on," Chandra said.
