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NUVAMA WEALTH MANAGE LTD Share Price Update

As of the latest trading session, NUVAMA WEALTH MANAGE LTD is trading at ₹1499, up by ₹22.80 or 1.54% from its previous close. The stock has moved between ₹1474.00 and ₹1514.90 today. Over the past year, the stock has delivered a return of 8.26%. In the last month, it has returned 7.04%.

NUVAMA WEALTH MANAGE LTD performance

Today’s low Today’s high
₹ 1474.00 ₹ 1514.90
₹ 1499.00
52 week low 52 week high
₹ 1096.90 ₹ 1701.70
₹ 1499.00
Open Price ₹ 1495.00
Prev. Close ₹ 1476.20
Volume (Shares) 376993.00
Total traded value ₹ 5651.12
Upper Circuit ₹ 1623.80
Lower Circuit ₹ 1328.60
info

Investment Returns

Over 1 Month 7.04% Over 3 Months 14.45% Over 6 Months 0.61% Over 1 Year 8.26%
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NUVAMA WEALTH MANAGE LTD fundamentals


  • Market cap (Cr) 27,308.70
  • P/E Ratio (TTM) 47.46
  • Beta 1.37
  • Book Value / share 113.49
  • Return on equity 32.96%
  • EPS (TTM) 31.14
  • Dividend yield 0.95%
  • Net profit/quarter (Cr) 19.11
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  • Market cap (Cr) 27,273.20
  • P/E Ratio (TTM) 47.46
  • Beta 1.34
  • Book Value / share 113.49
  • Return on equity 32.96%
  • EPS (TTM) 31.14
  • Dividend yield 0.95%
  • Net profit/quarter (Cr) 19.11
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NUVAMA WEALTH MANAGE LTD Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars MAR 2026 (Values in Cr)
Revenue 172.14
Operating Expense 174.87
Net Profit 19.11
Net Profit Margin (%) 11.10
Earnings Per Share (EPS) 1.05
EBITDA 38.80
Effective Tax Rate (%) 4.97
Particulars DEC 2025 (Values in Cr)
Revenue 403.64
Operating Expense 122.93
Net Profit 280.29
Net Profit Margin (%) 69.44
Earnings Per Share (EPS) 15.48
EBITDA 315.45
Effective Tax Rate (%) 5.68
Particulars SEP 2025 (Values in Cr)
Revenue 187.73
Operating Expense 143.57
Net Profit 46.35
Net Profit Margin (%) 24.68
Earnings Per Share (EPS) 12.87
EBITDA 80.53
Effective Tax Rate (%) 25.62
Particulars JUN 2025 (Values in Cr)
Revenue 422.44
Operating Expense 252.48
Net Profit 221.48
Net Profit Margin (%) 52.42
Earnings Per Share (EPS) 61.55
EBITDA 280.98
Effective Tax Rate (%) 1.60
Particulars MAR 2025 (Values in Cr)
Revenue 217.72
Operating Expense 209.56
Net Profit 27.47
Net Profit Margin (%) 12.61
Earnings Per Share (EPS) 7.65
EBITDA 66.41
Effective Tax Rate (%) 24.78
Particulars MAR 2026 (Values in Cr)
Revenue 1185.95
Operating Expense 693.85
Net Profit 567.23
Net Profit Margin (%) 47.82
Earnings Per Share (EPS) 31.38
EBITDA 715.78
Effective Tax Rate (%) 6.19
Particulars MAR 2025 (Values in Cr)
Revenue 1354.38
Operating Expense 810.47
Net Profit 597.71
Net Profit Margin (%) 44.13
Earnings Per Share (EPS) 167.68
EBITDA 785.54
Effective Tax Rate (%) 9.18
Particulars MAR 2024 (Values in Cr)
Revenue 653.79
Operating Expense 615.30
Net Profit 98.09
Net Profit Margin (%) 15.00
Earnings Per Share (EPS) 27.92
EBITDA 249.95
Effective Tax Rate (%) 8.77
Particulars MAR 2023 (Values in Cr)
Revenue 349.75
Operating Expense 417.26
Net Profit 6.30
Net Profit Margin (%) 1.80
Earnings Per Share (EPS) 1.90
EBITDA 83.81
Effective Tax Rate (%) 11.26
Particulars MAR 2022 (Values in Cr)
Revenue 355.22
Operating Expense 331.16
Net Profit 187.94
Net Profit Margin (%) 52.90
Earnings Per Share (EPS) 109.45
EBITDA 227.59
Effective Tax Rate (%) -2.35
Particulars MAR 2025 (Values in Cr)
Book Value / Share 964.79
ROE % 31.05
ROCE % 20.45
Total Debt to Total Equity 2.30
EBITDA Margin 53.50
Particulars MAR 2024 (Values in Cr)
Book Value / Share 813.95
ROE % 21.52
ROCE % 15.94
Total Debt to Total Equity 2.38
EBITDA Margin 49.63
Particulars MAR 2023 (Values in Cr)
Book Value / Share 634.30
ROE % 10.45
ROCE % 10.86
Total Debt to Total Equity 2.18
EBITDA Margin 39.94
Particulars MAR 2022 (Values in Cr)
Book Value / Share -99.63
ROE % 12.36
ROCE % 12.31
Total Debt to Total Equity 1.44
EBITDA Margin 27.00
Particulars MAR 2021 (Values in Cr)
Book Value / Share -187.54
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 1.03
EBITDA Margin 35.47
Particulars MAR 2025 (Values in Cr)
Book Value / Share 532.54
ROE % 32.96
ROCE % 30.91
Total Debt to Total Equity 0.37
EBITDA Margin 57.88
Particulars MAR 2024 (Values in Cr)
Book Value / Share 484.55
ROE % 4.29
ROCE % 6.43
Total Debt to Total Equity 0.28
EBITDA Margin 38.21
Particulars MAR 2023 (Values in Cr)
Book Value / Share 455.25
ROE % 0.22
ROCE % 1.26
Total Debt to Total Equity 0.10
EBITDA Margin 21.26
Particulars MAR 2022 (Values in Cr)
Book Value / Share -398.68
ROE % 1.45
ROCE % 1.70
Total Debt to Total Equity 0.02
EBITDA Margin 15.19
Particulars MAR 2021 (Values in Cr)
Book Value / Share -225.15
ROE % 12.21
ROCE % 16.29
Total Debt to Total Equity 0.40
EBITDA Margin 59.29
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 20235.40
Total Assets 28387.64
Total Liabilities 28387.64
Total Equity 3493.11
Share Outstanding 3
Price to Book Ratio 11.42
Return on Assets (%) 3.47
Return on Capital (%) 8.7
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 12613.28
Total Assets 20386.94
Total Liabilities 20386.94
Total Equity 2898.86
Share Outstanding 3
Price to Book Ratio 9.65
Return on Assets (%) 3.06
Return on Capital (%) 6.48
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 5327.84
Total Assets 12715.68
Total Liabilities 12715.68
Total Equity 2258.79
Share Outstanding 3
Price to Book Ratio 0.00
Return on Assets (%) 2.39
Return on Capital (%) 3.98
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 4649.43
Total Assets 10598.25
Total Liabilities 10598.25
Total Equity 1912.84
Share Outstanding 3
Price to Book Ratio 0.00
Return on Assets (%) 8.08
Return on Capital (%) 15.7
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 4553.62
Total Assets 7451.17
Total Liabilities 7451.17
Total Equity 1609.48
Share Outstanding 3
Price to Book Ratio 0.00
Return on Assets (%) -6.37
Return on Capital (%) -15.64
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 649.47
Total Assets 7285.26
Total Liabilities 7285.26
Total Equity 1935.16
Share Outstanding 3
Price to Book Ratio 11.42
Return on Assets (%) 8.20
Return on Capital (%) 22.2
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 828.36
Total Assets 4550.65
Total Liabilities 4550.65
Total Equity 1731.69
Share Outstanding 3
Price to Book Ratio 9.65
Return on Assets (%) 2.15
Return on Capital (%) 4.22
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 374.24
Total Assets 2254.22
Total Liabilities 2254.22
Total Equity 1626.53
Share Outstanding 3
Price to Book Ratio 0.00
Return on Assets (%) 0.27
Return on Capital (%) 0.32
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 349.72
Total Assets 1954.01
Total Liabilities 1954.01
Total Equity 1591.82
Share Outstanding 3
Price to Book Ratio 0.00
Return on Assets (%) 9.61
Return on Capital (%) 11.81
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 198.02
Total Assets 1708.13
Total Liabilities 1708.13
Total Equity 1478.85
Share Outstanding 1
Price to Book Ratio 0.00
Return on Assets (%) 3.71
Return on Capital (%) 4.16
Particulars MAR 2025 (Values in Cr)
Net Income 1318.30
Cash from Operations -47.88
Cash from Investing -65.21
Cash from Financing 600.53
Net change in Cash 164.20
Free Cash Flow -14.79
Particulars MAR 2024 (Values in Cr)
Net Income 812.00
Cash from Operations -1450.77
Cash from Investing -79.77
Cash from Financing 1315.83
Net change in Cash -422.39
Free Cash Flow -1369.82
Particulars MAR 2023 (Values in Cr)
Net Income 406.09
Cash from Operations -1792.06
Cash from Investing -177.23
Cash from Financing 1825.16
Net change in Cash -216.98
Free Cash Flow -1713.18
Particulars MAR 2022 (Values in Cr)
Net Income 935.45
Cash from Operations -1356.24
Cash from Investing -82.17
Cash from Financing 2138.52
Net change in Cash 631.09
Free Cash Flow -1304.91
Particulars MAR 2021 (Values in Cr)
Net Income -413.99
Cash from Operations -1065.91
Cash from Investing -123.02
Cash from Financing 877.12
Net change in Cash -353.58
Free Cash Flow -1042.45
Particulars MAR 2025 (Values in Cr)
Net Income 658.14
Cash from Operations 113.71
Cash from Investing 395.37
Cash from Financing -386.22
Net change in Cash 66.35
Free Cash Flow 123.45
Particulars MAR 2024 (Values in Cr)
Net Income 107.53
Cash from Operations -155.00
Cash from Investing -81.95
Cash from Financing 252.27
Net change in Cash -2.07
Free Cash Flow -92.77
Particulars MAR 2023 (Values in Cr)
Net Income 7.10
Cash from Operations -266.75
Cash from Investing -82.21
Cash from Financing 286.41
Net change in Cash -66.30
Free Cash Flow -204.64
Particulars MAR 2022 (Values in Cr)
Net Income 183.60
Cash from Operations 190.57
Cash from Investing -129.74
Cash from Financing -3.95
Net change in Cash 44.51
Free Cash Flow 205.51
Particulars MAR 2021 (Values in Cr)
Net Income 72.16
Cash from Operations 308.38
Cash from Investing -500.08
Cash from Financing 175.31
Net change in Cash -23.43
Free Cash Flow 319.33
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
B.N.RATHI SECURITIES LTD. 17.28 7.65 0.91 72.14 10.81 25.68
NDA SECURITIES LTD. 33.00 132.00 1.68 19.63 24.30 64.98
MONARCH NETWORTH CAP LTD 311.15 13.61 2.53 2466.43 238.75 398.60
ARIHANT CAPITAL MARKETS LTD. 69.40 19.66 1.69 760.71 57.90 120.35
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
MUNOTH CAPITAL MARKET LTD. 111.50 0.00 16.85 102.20 111.50 178.40
FIRST CUSTODIAN FUND (INDIA) L 72.00 0.00 0.70 10.80 65.00 139.70
B.N.RATHI SECURITIES LTD. 17.28 7.05 0.95 72.14 10.81 25.68
INDBANK MERCHANT BANKING SERVI 33.56 21.24 1.50 148.94 29.00 47.00

NUVAMA WEALTH MANAGE LTD shareholding pattern

Holding
20.62%
54.12%
16.94%
8.29%
62.8%
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NUVAMA WEALTH MANAGE LTD Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
1499.00 1.54 redarrow
red-green-graph indicator
1 Bearish
15 Bullish
  • 5 Days 1473.80
  • 26 Days 1416.60
  • 10 Days 1470.70
  • 50 Days 1369.60
  • 12 Days 1465.20
  • 100 Days 1351.60
  • 20 Days 1436.70
  • 200 Days 1349.00
1465.40 PIVOT
First Support 1447.80 First Resistance 1493.80 Second Support 1419.40 Second Resistance 1511.40 Third Support 1401.80 Third Resistance 1539.80
RSI 57.48 ADX 29.01 MACD 48.61 Williams % R -51.28 Commodity Channel Index (CCI) 29.37
Date 2026-05-20 Week 233167.00 Same Day 199615.00 Month 277905.00
1 Year 1.38 3 Year 1.45
Over 1 Month
7.04% down
Over 1 Year
8.26% down
Over 3 Months
14.45% down
Over 3 Years
41.36% down
Over 6 Months
0.61% down
Over 5 Years
0.00% down

NUVAMA WEALTH MANAGE LTD Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
15 May 2026 14.0 Interim 1 15 May 2026 Equity shares
11 Nov 2025 70.0 Interim 2 11 Nov 2025 Equity shares
03 Jun 2025 69.0 Interim 1 03 Jun 2025 Equity shares
07 Nov 2024 63.0 Interim 07 Nov 2024 Equity shares
07 Aug 2024 81.5 Interim 07 Aug 2024 Equity shares
Ex-Date Old FV NEW FV Record Date
26 Dec 2025 10.0 2.0 26 Dec 2025
Dividend date Dividend amount Dividend type Record date Instrument type
15 May 2026 14.0 Interim 1 15 May 2026 Equity shares
11 Nov 2025 70.0 Interim 2 11 Nov 2025 Equity shares
03 Jun 2025 69.0 Interim 1 03 Jun 2025 Equity shares
07 Nov 2024 63.0 Interim 07 Nov 2024 Equity shares
07 Aug 2024 81.5 Interim 07 Aug 2024 Equity shares
Ex-Date Old FV NEW FV Record Date
26 Dec 2025 10.0 2.0 26 Dec 2025

Top Gainers

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Top Losers

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NUVAMA WEALTH MANAGE LTD Share Price

Nuvama Wealth Management Limited was originally incorporated on August 20, 1993 as a private limited Company as Kayjay Financial Research Services Private Limited. On February 13, 1998, the name of the company was changed to KJS Securities Private Limited. Further, on May 4, 1998, the name changed to Rooshnil Securities Private Limited. Again to Edelweiss Securities Private Limited on May 12, 2004. Then finally, on April 20, 2007, the company became a public limited Company and the name was changed to Edelweiss Securities Limited and from Edelweiss Securities Limited , the name changed to Nuvama Wealth Management Limited on August 18, 2022. PAGAC Ecstasy Pte. Limited is the holding Company.

The Company is a stock broking entity and is licensed with and regulated by the Securities and Exchange Board of India (SEBI') to, among other things, conduct trading and broking activities for institutional as well as retail clients. The Company is licensed with SEBI as Research Analyst to, among other things, distribute research reports on Indian Securities to its clients. Also, the Company is registered as a Merchant Banker and Investment Adviser with SEBI. The Company is registered as a Trading cum Clearing Member with the National Stock Exchange of India Limited and the BSE Limited and is registered as a Trading Member with Metropolitan Stock Exchange of India Ltd, Multi Commodity Exchange of India Limited and National Commodity Exchange of India Limited.

During the year 2008-09, the company launched research portal which is providing research report online to its clients. They obtained Trading and clearing Membership of The National Stock Exchange of India Ltd, The Bombay Stock Exchange Ltd and The MCX Stock Exchange Ltd.

During the year 2009-10, Arum Investments Pvt Ltd (Arum) became the subsidiary of the company.

The Company in addition, provide margin trading facility to the brokerage clients for leveraging their eligible collaterals by funding their requirements on the cash delivery segment of equities. Such funding is subject to exposure against margins that are mandated by the stock exchanges, with the securities forming a part of the collateral for such funding. Besides, it offer distribution services for wide range of financial products including mutual funds, insurance products, fixed income products, mortgages and loans, portfolio management schemes, alternative investment funds, structured products and IPOs to clients.

The Company as on March 31, 2022, had a network of 71 branches spread across 57 cities. Given the wide network, there are a large number of trading terminals that provide retail stock-broking facilities.

The Company is a wholly owned subsidiary of Nuvama Wealth Management Limited (NWML) (Formerly Edelweiss Securities Limited), as the Promoter. It also caters to a wide clientele comprising leading domestic and international institutional investors, including Pension Funds, Hedge Funds, Mutual Funds, insurance companies, and banks.

Pacific Alliance Group (PAG), one of the largest Asia focused alternative investment manager, has also acquired controlling stake of NWML in the FY 2020-21.

The Company launched asset management business in 2021, focusing on alternative investments strategies across Private Markets, Public Markets and Commercial Real Estate.

In 2022-23, pursuant to a Scheme of Arrangement with Edelweiss Financial Services Limited (EFSL) and the Company, the Wealth Management business of EFSL got demerged into with the Company and the Scheme became effective from May 18, 2023.

The Company launched a commercial real estate fund through the 50:50 Joint venture entity with Cushman and Wakefield as partner in 2024. It further launched a multi-fund digital onboarding solution for PMS and AIF clients.

The Company incorporated a wholly owned subsidiary with the name of Nuvama Wealth Management (DIFC) Limited in Dubai on June 4, 2024 in FY 2024-25. It launched international private wealth management operations in Dubai.

Parent organization Indian Private
NSE symbol NUVAMA
Founded 1993
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Board Of Directors

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Birendra Kumar Chairman & Independent Directo
Ashish Kehair Managing Director & CEO
Shiv Sehgal Executive Director
Anisha Motwani Independent Non Exe. Director
Aswin Vikram Non Executive Director / Nominee
Kamlesh S Vikamsey Independent Non Exe. Director
Nikhil Srivastava Non Executive Director / Nominee
Sameer Kaji Independent Non Exe. Director
Sneha Amit Patwardhan Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Nuvama Wealth Management Ltd?

Answer Field

Nuvama Wealth Management Ltd share price is for NSE ₹ 1,499.00 & for BSE ₹ 1,497.05 as on May 21 2026 03:30 PM.

What is the Market Cap of Nuvama Wealth Management Ltd Share?

Answer Field

The market cap of Nuvama Wealth Management Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on May 21 2026 03:30 PM.

What is the 52 Week High and Low of Nuvama Wealth Management Ltd?

Answer Field

The 52 Week High and Low of Nuvama Wealth Management Ltd for NSE is ₹ 1,701.70 and ₹ 1,096.90 and for BSE is ₹ 1,702.00 and ₹ 1,097.25.

What is 1 year return for Nuvama Wealth Management Ltd?

Answer Field

The 1 year returns on the stock has been 8.26%.

What is the P/E Ratio of Nuvama Wealth Management Ltd Share?

Answer Field

As on May 21 2026 03:30 PM the price-to-earnings (PE) ratio for Nuvama Wealth Management Ltd share is 47.46.

What is the PB ratio of Nuvama Wealth Management Ltd Share?

Answer Field

As on May 21 2026 03:30 PM, the price-to-book (PB) ratio for Nuvama Wealth Management Ltd share is 113.49.

How to Buy Nuvama Wealth Management Ltd Share?

Answer Field

You can trade in Nuvama Wealth Management Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Nuvama Wealth Management Ltd Share on Bajaj Broking App?

Answer Field

To buy Nuvama Wealth Management Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Nuvama Wealth Management Ltd”

• Click on the BUY icon

• Place a buy order specifying the desired quantity of shares.

• Click BUY again to complete the purchase

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SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043

Compliance officer:

Mr. Boudhayan Ghosh 
TEL: 020-48574486
Email for any investor grievances or write to us for DP related matters.

DISCLAIMER

STANDARD DISCLAIMER

Investments in the securities market are subject to market risk, read all related documents carefully before investing.

Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403. 

Website: Bajaj Broking

RESEARCH DISCLAIMER

Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.

Details of Compliance Officer: 

Mr. Boudhayan Ghosh (For Broking/DP/Research)
Email | Contact No.: 020-4857 4486 

Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

DISCLOSURES

Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations) 

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043. 

DISCLAIMER

This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects. 

This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.  

The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

THIRD PARTY PRODUCT DISCLAIMER

Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.