1:1 Bonus, 16.50/Share Dividend: NBFC To Recommend Dividend, Buy For TP Rs 900: Motilal Oswal

Mid cap company from the NBFC sector, 360 ONE WAM Ltd will hold its meeting of Board of Directors on April 23, 2024 to consider declaration of first interim dividend for the FY 2024-25. Last trading price of 360 ONE WAM share on BSE is Rs 799.50 per share with intraday gain of 6.47%. 360 ONE WAM shares 96% in last 1-year and 169% in last 2-years.

360 ONE WAM Ltd offered 1:1 bonus issue in 2023 and gave dividend amounting to Rs 16.50/share dividend in last 1-year. Jefferies and Motilal Oswal have given buy call to 360 ONE WAM share with target price of Rs 900 and 850 per share, respectively. More details given below:

360 ONE WAM Ltd To Consider Interim Dividend: As per the regulatory filing of the company dated April 18, 2024, "the Board of Directors of 360 ONE WAM LIMITED ("Company" and formerly known as IIFL Wealth Management Limited) shall at its meeting scheduled to be held on Tuesday, April 23, 2024, inter alia consider declaration of first interim dividend for the financial year 2024-25, to the equity shareholders of the Company." The company fixed May 2, 2024 as the record date for interim dividend.

360 ONE WAM Share Performance: The 52-week high price of 360 ONE WAM share on BSE is Rs 901.10 per share (as on 18/04/2024) and 52-week low price is Rs 397.95 per share (16/05/2023), respectively. The NBFC has a market capitalisation of Rs 28,691.07 crore. 360 ONE WAM shares gave return of 49% in last 6-months and gave return of 81% in last 2-years.

360 ONE WAM Dividend History: 360 One Wam announced 14 dividends since October 31, 2019. In last 12 months, 360 One Wam offered an equity dividend amounting to Rs 16.50 per share. At the current share price of Rs 799.5000, 360 One Wam offers a dividend yield of 2.06%.

360 ONE WAM Stock Split History: 360 One Wam split the face value once since March 2, 2023. 360 One Wam last split the face value of its shares from Rs 2 to Re 1 in 2023.The shares traded ex-split from March 2, 2023.

Analysts Recommend Buy: Brokerage Jefferies India has initiated coverage on 360 One Wam share and upgraded the target price to Rs 900 per share. "We believe Indian Wealth Managers (IWMs) are well-placed to ride on economic growth and financialisation of savings, especially into capital markets. Leading players will benefit from strong inflows and operating efficiencies to deliver 20-22% profit CAGR over FY24-27," said Jefferies India.

Meanwhile, Motilal Oswal has recommended buy call too with target price of Rs 850 per share.

360 ONE WAM Technical: Score is 67.49 indicating the stock is technically moderately strong. Stocks with score between 60 and 70 are considered as technically moderately strong. RSI is 74.7, RSI above 70 is considered overbought. This implies that stock may show pullback. MACD is above its center and signal Line, this is a bullish indicator. Number of FII/FPI investors increased from 395 to 414 in Dec 2023 quarter. Mutual Funds have increased holdings from 5.12% to 6.86% in Dec 2023 quarter, according to Trendlyne.

360 ONE WAM Financials: The company reported a jump of 7.7% year-on-year (YoY) in its Q3 PAT crore and 4.7% QoQ surge at Rs 194 crore. It declared its Q3 total revenues at Rs 467 crore, up 13.9% YoY and 5.7% QoQ.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal and Jefferies. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.