Citi Research initiates coverage on India's 360 ONE WAM with "buy"

360 One Wam

30/06/2023 08:13

** Citi Research initiates coverage on 360 ONE WAM Ltd
 ONEW.NS  with "buy" rating and PT of 600 rupees
    ** Stock currently up as much as 2.52% at 457.1 rupees,
their biggest pct gain since June 23
    ** Co's robust operating trends, diversified products, and
client acquisition engine underpin our buy - Citi Research
    ** Adds, strong recurring flows for co to be driven by
client additions, wallet expansion with rising client vintage,
and churn from non-recurring to recurring assets 
    ** Sees co's niche and dominant positioning in wealth
management landscape in India as growth factor 
    ** Trading volume is ~118,816 shares as of 12:32 p.m. IST,
0.2x the 30-day avg - Refinitiv data
    ** All 5 brokerages on the co rate stock a "buy" or above,
indicating bullish sentiment, their median PT is 530 rupees
    ** Stock up 0.39% YTD as of last close 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))