Nuvama Wealth Shares Jump After Strong Q2 Results

Nuvama Wealth Management shares rallied as much as 6.6 percent on Thursday, November 12, to hit an intraday high of ₹ 1,963.95 on the BSE after reporting a strong performance for the September quarter of financial year 2027. The stock is now just 5 percent away from its record high of ₹ 2,067 touched in July 2026, after hitting a 52-week low of ₹ 1,097.25 in March 2026.

Financial Results

The company posted a 19.5 percent year-on-year increase in consolidated net profit to ₹ 303.5 crore for the September quarter, compared with ₹ 254 crore in the same period last year. Revenue from operations grew 20.35 percent to ₹ 1,366 crore from ₹ 1,135 crore a year earlier. The wealth management business recorded 14 percent revenue growth to ₹ 501 crore, asset services revenue jumped 53 percent to ₹ 245 crore, and capital markets revenue increased 9 percent to ₹ 175 crore. Client assets reached ₹ 5.5 lakh crore, marking a 25 percent year-on-year growth.

Leadership and Brokerage Reaction

Ashish Kehair, MD and CEO of Nuvama Group, stated that the firm delivered another quarter of strong performance with operating profits growing 26 percent year-on-year and a return on equity of 29 percent. Motilal Oswal Securities reiterated its Buy recommendation with a revised price target of ₹ 2,160, which implies an upside potential of around 17 percent from the previous close. The brokerage noted that profit after tax stood at ₹ 3 billion, up 19 percent year-on-year, though it was impacted by the one-time pre-closure of a venture debt fund.

Context

Wealth management firms in India have seen steady client asset growth as more domestic investors channel funds into capital markets through professional services. Brokerage ratings and price targets often influence short-term stock movements by offering retail investors an expert view on a company's financial health and future earnings potential.