Motilal Oswal has given Buy on the stock with a revised price target (PT) of R recommendation for IIFL Wealth with a target price of Rs. lal Oswal is bullish on IIFL Wealth has recommended buy on the stock with a revised price target (PT) of Rs. 2,100 in its research report issued on Feb 03, 2022


Over the past decade, IIFLWAM has evolved into one of the best wealth management franchises in India. It has become one of the largest alternate asset managers, with unique product offerings. With IIFL ONE, the company is looking to change the way wealth management is offered in India, by focusing on recurring revenues rather than the traditional approach of transaction-based revenues. The momentum in ARR assets continued in 3Q, with strong growth in AMC and distribution assets. Yields improved sharply in both ARR and TBR assets. IIFLWAM saw a recovery in net inflows in 3QFY22 after a sluggish 2QFY22. We upgrade our earnings estimates by 6% for both FY22 and FY23 to factor in better-than-expected 3QFY22 performance and upward revision in management guidance. We maintain our BUY rating with a revised TP of INR 2,100 (premised on 25x FY24E EPS).

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