Nuvama Wealth rises; Investec starts coverage with 'hold'
BUZZ-Nuvama Wealth rises; Investec starts coverage with 'hold' ** Nuvama Wealth Management's NUVA.NS shares up 1.3% to 1,771 rupees
** Investec starts coverage of company's shares with "Hold" and sets PT of 1,900 rupees
** Brokerage says company's asset services business stands out as a structurally advantaged business with high operating leverage and capital-light economics
** Company's wealth business, and high net-worth individuals and other affluent individuals are moving well, and provides access to the more underestimated and less competitive ultra-high net worth individuals - brokerage
** NUVA is well-positioned to deliver double-digit growth - brokerage
** Investec flags prolonged capital market downturn as a risk
** Forecasts revenue CAGR at 16% over FY26-29E
** Expects PAT CAGR at 18% over FY26-29E
** On average, 8 analysts rate the stock "Strong Buy"; median PT at 1,845 rupees - data compiled by LSEG
** YTD, stock up 18.7%
(Reporting by Mridula Kumar in Bengaluru)
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India's Nuvama Wealth Management hits record high as Investec initiates coverage
Nuvama Wealth rises; Investec starts coverage with 'hold'