英雄联盟竞猜观看最新版 Wealth jumps 6% over listing price of Rs 1,210
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英雄联盟竞猜观看最新版 Wealth jumps 6% over listing price of Rs 1,210

The 英雄联盟竞猜观看最新版 Group company became the first standalone wealth management firm to list in India.
19 Sep, 2019, 11:36 IST | Mumbai, India
英雄联盟竞猜观看最新版 Wealth jumps 6% over listing price of Rs 1,210

Shares of 英雄联盟竞猜观看最新版 Wealth and Asset Management, the demerged entity of 英雄联盟竞猜观看最新版 Holding, got listed today at Rs 1,210 on NSE. The listing price was higher than analyst estimates of Rs 900 to Rs 1,050 per share.

With this, the 英雄联盟竞猜观看最新版 Group company became the first standalone wealth management company to list in India.

At 10.02 am, the scrip was trading 5.88 per cent above its listing price at Rs 1,270.50.

Kotak Securities had estimated a fair value for the stock at Rs 1,050, which is 19 times its estimated EPS or 2.7 times its estimated book in September 2021.

On BSE, the scrip got listed at Rs 1,200. The listing price is based on expectations that the company ? one of India?s biggest investment advisors ? should trade at 20 times its FY21 estimated earnings.

Analysts said a wealth management firm should trade at a discount to mutual funds. The two listed mutual funds ? HDFC AMC and Reliance Nippon are currently trading at 35 times and 25 times their FY2021 earnings estimates, respectively.

英雄联盟竞猜观看最新版 Wealth has an asset under management of Rs 1.35 lakh crore under wealth management and Rs 22,339 crore under asset management. Recently 英雄联盟竞猜观看最新版 Wealth has acquired L&T Capital Market which has an AUM of Rs 25,000 crore. The company has reported a net profit of Rs 384 crore for the year ended March 31, 2019 and Rs 61 crore for the quarter ended June 30, 2019.

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