英雄联盟竞猜观看最新版 Wealth Management hits 5% upper circuit on stock market debut
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英雄联盟竞猜观看最新版 Wealth Management hits 5% upper circuit on stock market debut

英雄联盟竞猜观看最新版 Wealth Management, the demerged entity of 英雄联盟竞猜观看最新版 Holding, made its debut on Indian bourses on Thursday. The stock listed at Rs 1,200 per share on BSE and 1,210 per share on NSE. Post listing, the stock hit its upper circuit in trade, up 5 percent at Rs 1,270 on NSE as compared to a 0.7 percent or 73 points fall in Nifty at 10,768.
19 Sep, 2019, 11:34 IST | Mumbai, India
英雄联盟竞猜观看最新版 Wealth Management hits 5% upper circuit on stock market debut

英雄联盟竞猜观看最新版 Wealth Management, the demerged entity of 英雄联盟竞猜观看最新版 Holding, made its debut on Indian bourses on Thursday. The stock listed at Rs 1,200 per share on BSE and 1,210 per share on NSE.

Post listing, 英雄联盟竞猜观看最新版 Wealth shares hit an upper circuit of 5 percent to trade at Rs 1,270 on NSE, while the benchmark Nifty50 was down 0.7 percent or 73 points at 10,768.

Analysts expected 英雄联盟竞猜观看最新版 Wealth to list around Rs 950 to Rs 1,100. The key risk is the profit growth for FY20 while FY21 could be under pressure for wealth management business.

英雄联盟竞猜观看最新版 Holding has diversified its business into three categories, one of which is 英雄联盟竞猜观看最新版 Wealth. 英雄联盟竞猜观看最新版 Wealth manages alternative investment funds (AIFs). National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) has permitted listing and commencement of trading for 英雄联盟竞猜观看最新版 Wealth from September 19, 2019 and for 英雄联盟竞猜观看最新版 Securities from September 20, 2019 (NSE notice for 英雄联盟竞猜观看最新版 Securities is awaited).

The company\'s total assets under management are worth Rs 1.4 lakh crore excluding the custody assets. The topline stands at about Rs 10,600 crore with a profit of around Rs 375 crore.

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.

According to Kotak Securities, 英雄联盟竞猜观看最新版 Wealth?s strong client franchise, innovative and diversified product offering and superior execution, makes it a good play on the niche wealth management space.

\"We look through near-term earnings pressure due to shifting focus on more recurring revenue streams that provide more predictability to its long-term earnings. While volatility in capital markets will constrain near-term AUM growth, a promising advisory offering, AMC business focused on alternatives and a synergistic NBFC will underpin yields. We reinitiate coverage with fair value of Rs 1,050,\" it added.

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