Rs. 7/Share Dividend By Anand Rathi Wealth: 18th October Record Date; Right Time To Buy?

A non-bank wealth management firm is called Anand Rathi Wealth. In India, the firm provides a range of financial services and products, and Anand Rathi Wealth is registered as a mutual fund distributor with AMFI. Stock broking, wealth management, investment banking, commodities broking, construction finance, and capital market loans are all included in the company's service offering. Anand Rathi Wealth has released its Q2 results and announced a 140% dividend. View the details below.

Anand Rathi Wealth Dividend

The Board of Directors "Declared the first Interim dividend of Rs. 7.00 per Equity Share (140%) on the Equity Shares of Rs. 5/­ each (face value) for the financial year 2024-25. And the payment thereof shall be credited/dispatched within 30 days from the date of declaration as per applicable provisions of Companies Act, 2013, to such shareholders as on Record Date i.e. 18th October, 2024," said Anand Rathi Wealth in a stock exchange filing.

Anand Rathi Wealth Q2 Results

For the July-September 2024 quarter (Q2FY25), Anand Rathi Wealth Limited revealed a consolidated net profit of Rs 76 Crores, a 32% increase over the net profit of Rs 57.7 Cr for the same period in 2023. In comparison to July - Sep 2023 (Q2FY24), when the net profit was Rs 189.1 Cr, the firm recorded total sales of Rs 250 Crores (Q2FY25), a 32% growth. For the fiscal year 2024-2025 (H1FY25), the company recorded a consolidated net profit of Rs 150 crores, up 35% from the previous year's H1FY24-2023 period. During the same time, total sales increased by 35% to Rs 495 crores.

Mr. Rakesh Rawal, Chief Executive Officer of Anand Rathi Wealth said, "We are thrilled to announce another exceptional financial result. In H1 FY25 our total revenue grew by 35% year-on-year to Rs 495 Crores and Profit after Tax was Rs 150 Crores, representing growth of 35% year-on-year. Our Assets Under Management (AUM) has seen a significant increase of 57% to Rs 75,084 Crores. In the first half of FY25, we welcomed 1,066 new client families, bringing our total count of client families to 10,977. In alignment with our policy of rewarding shareholders, we have declared an interim dividend of Rs 7 per share for FY25."

"India's growth story is being celebrated as the global economy faces geopolitical challenges and slow growth. As the fastest-growing large economy, India is projected to achieve a 7% GDP growth for FY25, driven by strong domestic demand, government reforms and increased capital expenditure, which has also boosted its market capitalization. In light of such strong economic growth, the company's prospects are positive, supported by the rising HNI population who are seeking a strategic approach to wealth creation," he further added.

Mr. Feroze Azeez, Deputy Chief Executive Officer of Anand Rathi Wealth said, "India's strong economic fundamentals have driven increased interest from both domestic and foreign investors. This trend is reflected in consistent inflows into the equity markets, with new investments hitting record highs month-on-month. Such a positive momentum is expected to strengthen the Indian equity markets further, fostering an environment conducive to long-term capital appreciation and broadening of the investor base."

"During H1 FY25 our total net inflows registered a remarkable year-on-year growth of 128%, reaching Rs 5,700 crores. Equity mutual fund net inflows achieved year-on-year growth of 64%, amounting to Rs 3,116 crores. Our client centric approach has resulted in 0.28% client attrition rate in terms of AUM lost during the first half of FY25. We take immense pride in achieving zero regret RM attrition for the fifth consecutive quarter-a true testament to our robust entrepreneurial work culture and unwavering commitment to our team's growth and satisfaction," he further added.

Anand Rathi Wealth Share Price Target

KKunal V Parar VP of Technical Research and Algo at Choice Broking said, "The stock is currently encountering resistance at the upper boundary of a rectangle formation, where it has been consolidating for several days. This suggests potential downside risk from the current level. However, the stock has also formed a "short fall", which represents a recent minor trough within the rectangle. This is typically an indication of a potential breakout to the upside."

"Additionally, the stock is trading above its 50-day moving average, signaling a positive trend. The RSI momentum indicator has also broken out of its downward-sloping trendline, suggesting renewed bullish momentum. Given this technical setup, we anticipate an upside move if the stock breaks above the 4275 level. In that case, a long position could be initiated with a strict stop loss at 3750, aiming for an upside target of 5075," the analyst further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.