Buy Nuvama Wealth; target of Rs 2160: Motilal Oswal
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Motilal Oswal issued a buy rating for Nuvama Wealth with a target price of Rs 2160.
- ✓The firm reported 2QFY27 operating revenue of INR9.4b, a 21% growth.
- ✓While PAT rose 19% to INR3b, it missed estimates slightly.
Story at a Glance
- Category
- Indian Markets
- Reported By
- MoneyControl
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Motilal Oswal's research report on Nuvama Wealth Nuvama Wealth (NUVAMA)'s 2QFY27 operating revenue of INR9.4b grew 21% YoY (in line). Wealth management revenue grew 14% YoY (in line), AMC grew 6% YoY (40% miss) and the overall capital markets business rose 31% YoY (in line). For 1HFY27, operating revenue grew 20% YoY. Total operating expenses grew 16% YoY to INR5.1b (in line), with 19% YoY growth in employee expenses. The cost-to-income ratio improved to 54.1% vs. 56.6% in 2QFY26 (our est. of 53.9%). EBITDA came in at INR4.3b up 29% YoY. EBITDA margin came in at 45.9% vs. 43.4% in 2QFY26. PAT was INR3b (+19% YoY; 8% miss owing to the one-off impact of the pre-closure of a venture debt fund).
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