Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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Regulatory Disclosure: Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details -
Address: 5184, Dolatganj Bajar, Ankit Hospital, Dahod (Gujarat) - 389151 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

Nuvama: Resilient Q2FY26 Led by Wealth Management

Nuvama: Decent Q3FY26 Despite Headwinds | Growth Continues to Be Strong

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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Equity Bottom-Up

Nuvama Wealth Management / Equity Bottom-Up

<ul>
<li>Nuvama reported its highest ever quarterly PAT of INR 306cr in Q1FY27, a growth of 16% YoY. Revenue grew 18% YoY to reach INR 909cr.</li>
<li>Wealth Management saw its revenues grow by 19% YoY, led by the Private division where revenues grew by 27% YoY while the Wealth division revenue grew 13% YoY.</li>
<li>Revenue in Asset Services segment grew 34% YoY while the Capital Markets segment reported flat revenue. Within Asset Management, management fee grew 22% YoY and AUM grew by 12% YoY.</li>
</ul>


Nuvama reported its highest ever quarterly PAT of INR 306cr in Q1FY27, a growth of 16% YoY. Revenue grew 18% YoY to reach INR 909cr.
Wealth Management saw its revenues grow by 19% YoY, led by the Private division where revenues grew by 27% YoY while the Wealth division revenue grew 13% YoY.
Revenue in Asset Services segment grew 34% YoY while the Capital Markets segment reported flat revenue. Within Asset Management, management fee grew 22% YoY and AUM grew by 12% YoY.


Nuvama Wealth Management

Nuvama: Highest Ever PAT in Q1FY27