India's 360 One Wam gains; analysts bullish on B&K Securities acquisition

360 One Wam

25/02/2025 07:23

** Shares of wealth management company's 360 One Wam
 ONEW.NS  rise 4.3% to 1,053 rupees on expectations of gains
from its recent acquisition of B&K Securities
    ** The company's management reiterated confidence in the
growth potential from the acquisition in a meeting with
brokerages on February 24
    ** Brokerages see the B&K acquisition as a positive move to
enhance ONEW’s capital market services
    ** Centrum Broking expects equity broking revenue to grow
from 700 million rupees or 3% of total revenue, to 2 billion
rupees or 9% of total revenue with B&K’s contribution
    ** Jefferies starts coverage with a "buy", while Motilal
Oswal sees potential for a strong research-backed brokerage
platform
    ** Citi predicts higher profitability due to an expanded
wealth client base
    ** The average rating from 11 analysts is “buy,” with a
median target price of 1,170 rupees, 11.1% above the current
level - LSEG data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))