The shares of one of the leading financial service providers gained up to 4.6 percent to Rs 631.70 per share after ICICI Prudential mutual funds bought 35 Lakhs equity shares.
At 3:10 p.m., 360 One Wam Ltd shares were trading at Rs 609.25 a share on the National Stock Exchange, up 1.11 percent from the previous close price and the company has a market capitalization of Rs 21,688 crores.
According to NSE Bulk deals, ICICI prudential mutual fund account ICICI prudential value discovery fund bought 35,00,000 equity shares of the company at the price of Rs 600 per share.
ICICI prudential value discovery fund is a type of open-ended equity scheme followed by a value investment strategy, The fund has 91.65 percent investment in domestic equities of which 65.39% is in Large Cap stocks, 10.25 percent is in mid-cap stocks, 3.37% in Small Cap stocks. The fund has 1.61 percent investment in Debt, of which 1.61 percent is in Government securities.
The company’s revenues have increased by 10 percent year on year from Rs 505 crore in Q2FY23 to Rs 554 crore in Q2FY24, while net profit has increased by 6.3 percent in the same period, from Rs 174 crore to Rs 185 crore.
360 ONE WAM Ltd shares have gained 14 percent in the last month and 45 percent in the last six months.
As per the recent shareholding pattern, company promoters hold a 20.83 percent stake in the company, while foreign institutional investors hold a 61.87 percent stake, and retail investors hold a 10.92 percent stake in the company.
In the financial year, the company received 73 percent of segment revenue from wealth management and 27 percent from asset management. In FY 22-23, the return on capital employed was 12.77 percent, and the return on equity stood at 21.07 percent.
The company is one of India’s largest asset and wealth management firms with an AUM of over $49.7 billion or Rs 413k crore.
360 one wam Ltd is one of the largest private wealth management firms in India. The company mainly acts as a wealth manager and provides services relating to financial product distribution, advisory, and portfolio management services.
Written by Omkar Chitnis
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