Anand Rathi Wealth's stock trading near 52-week high

14 Oct 2022 , 12:39 PM

After the firm announced a robust 41% YoY rise in consolidated net profit at Rs 43 crore, on the back of good revenue growth, shares of Anand Rathi Wealth touched a 52-week high of Rs 732.45 and the stock climbed 8% on the BSE in Friday's intra-day session. At Rs138 crore during the quarter, total revenue climbed 33% YoY.

The non-bank wealth solutions company's shares increased beyond the Rs 712 high it had reached on April 19, 2022. On December 14, 2021, the firm debuted on the public market. By selling shares in an initial public offering (IPO) for Rs550 each, it raised money. When compared to the 1.8% increase in the S&P BSE Sensex at 10:05 AM, the stock traded 6% higher at Rs 721.

Assets under management (AUM) at Anand Rathi Wealth increased significantly by 16% YoY to Rs35,842 crore. The interim dividend has been announced by the board at 100%, or Rs5 per share.

The firm, according to the management, demonstrated outstanding success across all market segments and increased operational effectiveness generally. The firm saw excellent net flows of Rs2,474 crore in H1FY23, which is more than double as compared to the net flows of Rs1,202 crore during the same period the previous year, notwithstanding the unpredictable market environment.

In India, Anand Rathi Wealth has developed into a large-scale financial products consortium with a presence in industries including wealth management, non-banking financial services, stockbroking, investment banking, and insurance broking. The Anand Rathi Group has expanded geographically and now is present throughout India and the Middle East. These regions are supported by business partners and businesses that provide representative office buildings.

Future technical advancements, a change in mindset toward making money rather than keeping it, and improved knowledge will all shape the needs of future clients for wealth management. Therefore, it is projected that technology adoption will have a significant impact on choosing the recipients. The corporation stated in its FY22 annual report that the players that would effectively be able to respond to the rising demand and have cost-effective techniques to service this clientele in a relevant manner would have a distinct edge over the long run.

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