India's Nuvama Wealth rises as ICRA reaffirms ratings, revises outlook to 'positive'

ICRA

10/03/2025 08:40

** Shares of Nuvama Wealth Management NUVA.NS up 1.9% to 5,564 rupees

** The company, which provides investment banking and brokerage services, says credit rating agency ICRA Ltd ICRA.NS reaffirmed its issuer rating assigned to Nuvama and revised outlook from stable to positive

** ICRA also reaffirms credit rating assigned to Long term/Short term non-fund-based bank lines and, revised outlook from stable to positive for unit Nuvama Clearing Services - co

** Avg rating of seven analysts is "strong buy" and median PT is 8,000 rupees, ~43.3% higher than current price - LSEG data

** NUVA nearly doubled in 2024

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))