The global brokerage believes wealth managers are well-placed to ride on India s economic growth and financialization of savings, especially in capital markets. Leading players will benefit from strong inflows and operational efficiencies to deliver 20-22% profit CAGR over FY24-27E. A rise in the share of trail fees (70-75% by FY27E) improves earning visibility and supports valuation re-rating
Global brokerage house Citi has initiated coverage on AMC Nuvama Wealth Management with a ‘Buy’ rating and a target price of ₹4,110, representing approximately a 27% potential upside. Nuvama s strength lies in its multi-product and open-architecture distribution model in the wealth sector.
Nuvama Wealth management allocated 1.05 crore shares to the shareholders of the Edelweiss Financial Services in a proportionate manner after the spin-off.