India's Nuvama Wealth jumps on regulatory nod to set up mutual fund business

Nuvama Wealth Management

03/10/2025 06:56

** Shares of Nuvama Wealth Management NUVA.NS up 2.51% to 6,652 rupees

** Stock had risen as much as 4.78% earlier in the session.

** India's markets regulator gives its approval to NUVA to act as a sponsor and set up a mutual fund business

** Final approval for registration is subject to fulfillment of certain requirements

** NUVA shares are down 6.29% in 2025 so far, outpacing the 2.6% rise in the Nifty 500 index .NIFTY500, exchange data shows

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))