360 ONE WAM gains up to 16% on outstanding Q4 results; brokerages bullish

Shares of 360 ONE WAM in early morning trade scaled higher by as much as 16 per cent, nevertheless pared much of the gains and were last trading higher by 6.89 per cent or Rs 52.5 at Rs 814.75 apiece on the BSE.

The revenue at the company during the fourth quarter of the FY2024 edged higher by 45.8 per cent on year, while profit jumped 55.4 per cent. As of March 31, the company’s assets under management remained at Rs 4.66 lakh crore.

Global brokerages and analysts view 

Jefferies continued with its ‘buy’ view on the brokerage and raised target price to Rs 930. The brokerage maintained that the company’s strong Q4 was led by sustained momentum in core ARR revenues, which soared 36% on year. Also, the gains were on account of a one-off jump in TBR, up 90 per cent on year.

The company’s wealth business remains in fast lane with 35 per cent on year growth in active ARR AUM. Also, the costs are currently elevated.

Zee Business Managing Editor Anil Singhvi is also bullish on the stock post its outstanding results. The expert has advised to buy the stock for the target of Rs 785, 795 and Rs 810, maintaining a stop loss of Rs 760.

360 ONE is the leading financial services provider, offering specialised solutions in the fields of wealth and asset management.