Nuvama Wealth Management Limited (IN:NUVAMA)
:NUVAMA
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Nuvama Wealth Management Limited
(NUVAMA)
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Rating:76Outperform
Price Target:
₹1,444.00
▲(19.72% Upside)
Action:UpgradedDate:10/22/25
Nuvama Wealth Management Limited's stock is rated positively due to strong financial performance and bullish technical indicators. The company's revenue growth and profitability are significant strengths, although cash flow management needs improvement. The technical analysis supports a positive outlook, but caution is advised due to potential overbought conditions. The valuation is reasonable, with a fair P/E ratio and a decent dividend yield.
Positive Factors
Sustained Revenue Growth & High Gross Margins
Consistent revenue expansion paired with high gross margins indicates durable demand for Nuvama’s wealth and advisory services. Over 2–6 months this supports reinvestment in client servicing, underwriting higher fixed costs, and sustaining profitability through client fee streams that are less volatile than pure trading income.
Negative Factors
Consistent Negative Free Cash Flow
Persistent negative free cash flow undermines the company's internal funding capacity for growth, dividends, or debt reduction. Reliance on external financing or working capital lines can constrain strategic flexibility and increase vulnerability if market conditions tighten over the next several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth & High Gross Margins
Consistent revenue expansion paired with high gross margins indicates durable demand for Nuvama’s wealth and advisory services. Over 2–6 months this supports reinvestment in client servicing, underwriting higher fixed costs, and sustaining profitability through client fee streams that are less volatile than pure trading income.
Read all positive factors
Nuvama Wealth Management Limited (NUVAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹241.61B
Dividend Yield1.91%
Average Volume (3M)7.28K
Price to Earnings (P/E)26.4
Beta (1Y)1.86
Revenue Growth13.08%
EPS Growth10.66%
CountryIN
Employees3,104
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)14.20
Shares Outstanding182,041,520
10 Day Avg. Volume7,550
30 Day Avg. Volume7,282
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)6.08
Price to Sales (P/S)9.91
P/FCF Ratio-52.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,600.00Price Target Upside32.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)66.07
Revenue Forecast (FY)₹35.51B
Nuvama Wealth Management Limited Business Overview & Revenue Model
Company Description
Nuvama Wealth Management Limited engages in wealth management, asset management, and capital markets businesses in India. The company provides debt advisory and clearing services; and portfolio management and investment advisory services. It is al...
How the Company Makes Money
NUVAMA primarily earns revenue by providing fee- and commission-based wealth and investment services and by generating market-linked income from client activity. Key revenue streams typically include: (1) Wealth management and advisory fees: recur...
Nuvama Wealth Management Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
75
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.61B | 21.40B | 17.38B | 13.23B | 15.65B | 10.83B |
| Gross Profit | 11.35B | 7.53B | 6.38B | 4.13B | 15.65B | 10.83B |
| EBITDA | 20.96B | 21.93B | 15.32B | 8.74B | 6.35B | 8.54B |
| Net Income | 10.26B | 9.86B | 6.25B | 3.05B | 8.57B | -4.83B |
Balance Sheet | ||||||
| Total Assets | 242.56B | 283.88B | 203.87B | 127.16B | 105.98B | 73.85B |
| Cash, Cash Equivalents and Short-Term Investments | 140.10B | 220.96B | 139.24B | 66.33B | 10.00B | 3.35B |
| Total Debt | 89.75B | 78.39B | 67.46B | 53.98B | 16.59B | 5.77B |
| Total Liabilities | 204.64B | 248.95B | 174.88B | 104.57B | 86.85B | 57.76B |
| Stockholders Equity | 37.90B | 34.90B | 28.95B | 22.54B | 19.13B | 16.09B |
Cash Flow | ||||||
| Free Cash Flow | -10.58B | -4.04B | -17.39B | -19.44B | -14.77B | -11.35B |
| Operating Cash Flow | -10.54B | -3.71B | -16.58B | -18.65B | -14.25B | -11.08B |
| Investing Cash Flow | -1.03B | -652.20M | -797.75M | -1.77B | -821.79M | -931.96M |
| Financing Cash Flow | 8.63B | 6.01B | 13.16B | 18.25B | 21.39B | 8.47B |
Nuvama Wealth Management Limited Technical Analysis
Positive
1206.15
Price Trends
1253.78
Positive
1344.05
Positive
1371.39
Positive
Market Momentum
33.84
Negative
71.89
Negative
96.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NUVAMA, the sentiment is Positive. The current price of 1206.15 is below the 20-day moving average (MA) of 1218.28, below the 50-day MA of 1253.78, and below the 200-day MA of 1371.39, indicating a bullish trend. The MACD of 33.84 indicates Negative momentum. The RSI at 71.89 is Negative, neither overbought nor oversold. The STOCH value of 96.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NUVAMA.
Nuvama Wealth Management Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹241.61B | 26.40 | ― | 1.91% | 13.08% | 10.66% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | ₹14.20B | 15.62 | ― | 0.70% | -4.47% | -59.29% | |
65 Neutral | ₹482.27B | 22.71 | ― | 0.57% | 12.44% | -25.58% | |
59 Neutral | ₹8.32B | 9.35 | ― | ― | 2.33% | -21.22% | |
59 Neutral | ₹157.99B | -220.42 | ― | ― | 3.40% | 6.97% | |
55 Neutral | ₹108.08B | 9.45 | ― | 1.37% | 10.17% | 17.92% |
* Financial Sector Average
IN:NUVAMA
Nuvama Wealth Management Limited
1,327.20
138.69
11.67%
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IN:EDELWEISS
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114.19
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58.64
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IN:MOTILALOFS
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IN:SMCGLOBAL
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24.97%
Nuvama Wealth Management Limited Corporate Events
Nuvama Subsidiary Fined by NSE for Client-Related Compliance Lapses
Mar 2, 2026
Nuvama Wealth and Investment Limited, a wholly owned subsidiary of Nuvama Wealth Management, has been penalized Rs 1,00,000 by the National Stock Exchange of India following a limited purpose inspection tied to client-related processes and complai...
Nuvama Subsidiary Gets NSE Warning Letter With No Financial Impact
Feb 21, 2026
Nuvama Wealth Management Limited has disclosed that its wholly owned subsidiary, Nuvama Wealth and Investment Limited, received a warning letter from the National Stock Exchange of India. The communication followed a limited purpose inspection con...
ICRA Upgrades Nuvama Wealth Ratings, Affirms Top Short-Term Grades Across Group
Feb 20, 2026
Nuvama Wealth Management Limited announced that rating agency ICRA has upgraded the company’s issuer rating and its long-term bank facilities to [ICRA]AA with a stable outlook from [ICRA]AA- with a positive outlook, while reaffirming its top...
Nuvama to Deliver Strategic Overview at 2026 India Conference
Feb 10, 2026
Nuvama Wealth Management Limited has informed the exchanges that its representatives will deliver a keynote industry and strategic overview presentation at the 21st Nuvama India Conference 2026 in Mumbai. The company emphasized that no unpublished...
Nuvama Posts Audio Recording of Q3 FY26 Earnings Call Online
Jan 27, 2026
Nuvama Wealth Management Limited has announced that the audio recording of its earnings conference call held on January 27, 2026, covering the company’s performance for the quarter and nine months ended December 31, 2025, has been made avail...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.