Shares of one of the largest wealth management firms in India gained 5 percent after Foreign Institutional Investor Morgan Stanley sold stake via block deal.
At 2:50 p.m the shares of 360 One Wam were trading at Rs. 537.70 up 5 percent from its previous day close price and the market capitalization of the company is 19,198 Cr.
As per the reports and the Bulk deals on NSE, the shares of 360 One Wam previously known as IIFL Wealth & Asset Management, changed hands on October 12,2023, as Morgan Stanley sold 24.42 lakh shares (0.68%) at Rs. 511.2 a piece and Norges Bank bought 32.76 lakh shares (0.91%) for Rs. 511.2 a piece.
The company’s revenue increased by 6.7 percent from 1,850.65 Cr in FY22 to 1,974.66 Cr in FY23, accompanied by increasing profits of 577.74 Cr to 657.89 Cr.
The company generated a return on equity (ROE) of 22.01 percent and a return on capital employed (ROCE) of 13.37 percent, this indicates that it is making good returns on its equity and decent returns on its capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 21.46 percent stake, the Domestic Institutional Investors hold 3.78 percent and the Foreign Institutional Investors (FII) hold 63.93 percent.
360 One Wam previously known as IIFL Wealth & Asset Management is one of the largest private wealth management firms in India that offers wealth management products and services such as financial product distribution, advisory services, equity and debt broking, real estate services and investment services etc.
Written by: Bharath K.S
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