In today’s briefing:
- 2025 High Conviction: Nuvama – A Play on Burgeoning Wealth Management Industry in India
- Lucror Analytics – Morning Views Asia
2025 High Conviction: Nuvama – A Play on Burgeoning Wealth Management Industry in India
- Going into CY25, Nuvama is one of our highest conviction ideas. It has potential to generate 75%+ upside, just from valuation gain.
- India’s wealth management industry is in nascent phase led by under-penetration and a growing affluent, HNI and UHNI clientele.
- Nuvama’s edge is its integrated platform bolstered by technology prowess and a solution-focused approach as opposed to a product-push model. It offers a holistic solution with a robust relationship-driven approach.
Lucror Analytics – Morning Views Asia
- In the US, initial jobless claims increased to a two-month-high of 242 k (220 k e / 225 k p), likely due to the Thanksgiving holiday.
- The PPI (final demand) came in at 3.0% y-o-y in November (2.6% e / 2.6% p), while core PPI (final demand) stood at 3.4% (3.2% e / 3.4% p).
- US Treasuries were sold off for the second consecutive day, with the yields gaining 4-6 bps across the curve.
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