Shares of Nuvama Wealth Management Limited (NSE:NUVAMA) are currently trading around ₹1,563 after witnessing a sharp rally in recent sessions, supported by strong FY26 earnings growth, expanding client assets, and continued momentum across its wealth management platform. The stock remains one of the strongest performers in the financial services space, reflecting investor confidence in India’s growing wealth management opportunity.
The company reported resilient operational performance during FY26 despite volatile market conditions, supported by strong growth in wealth management, asset services, and recurring revenue streams.
Data Source: Company Filing; Image source: © 2026 Krish Capital Pty. Ltd., Analysis: Kalkine Group
Wealth Management Continues to Drive Growth
Nuvama reported consolidated revenue of ₹3,122 crore in FY26, registering 8% YoY growth, while operating PAT increased 6% YoY to ₹1,049 crore. Q4FY26 revenue stood at ₹825 crore, up 7% YoY, while quarterly operating PAT rose 5% YoY to ₹269 crore.
The wealth management segment remained the primary growth engine for the company. Wealth management revenues increased 20% YoY to ₹1,718 crore during FY26, while segment profit before tax rose 23% YoY to ₹585 crore.
Nuvama Wealth client assets grew 14% YoY to ₹1,07,110 crore, supported by strong traction in managed products and investment solutions (MPIS). MPIS client assets surged 32% YoY to ₹39,227 crore, while net new money inflows increased 38% YoY to ₹8,920 crore during FY26.
The company’s affluent and HNI-focused platform continued expanding steadily with approximately 1.3 million clients, 1,250 relationship managers, and coverage across 500+ locations in India.
Private Wealth Business Shows Strong Momentum
Nuvama Private, which caters to UHNI and family office clients, also delivered healthy growth during FY26. Revenues increased 24% YoY to ₹758 crore, while operating PBT rose 24% YoY to ₹256 crore.
Client assets under the private wealth segment stood at ₹2,06,677 crore as of March 2026. Annual recurring revenue (ARR) assets increased 22% YoY to ₹54,021 crore, highlighting rising preference for advisory-led and recurring income-based solutions.
Management highlighted that ARR revenues now contribute nearly 59% of private wealth revenues, strengthening earnings quality and revenue visibility.
Asset Services and Asset Management Remain Key Growth Drivers
The company’s asset services business continued demonstrating strong resilience. FY26 revenues from asset services rose 12% YoY to ₹734 crore, supported by increasing institutional activity and expanding custody and clearing assets.
Assets under clearing and custody stood at ₹1,25,954 crore as of Q4FY26. Management described the business as “infrastructure-like” due to its recurring and relatively stable revenue profile.
Meanwhile, asset management fees increased 31% YoY during FY26, while AUM expanded 13% YoY to ₹12,807 crore. The company also continued strengthening its alternative investment and public market offerings.
AI, Technology and Expansion Strategy Support Long-Term Outlook
Nuvama emphasized continued investments in AI, digital transformation, and client servicing capabilities during FY26. The company has integrated AI-driven tools across client acquisition, operations, compliance, onboarding, and advisory workflows to improve efficiency and productivity.
Management also reiterated long-term growth targets across wealth management, asset management, and asset services businesses, supported by India’s structural financialization trend and rising affluent population.
Additionally, the board announced a dividend of ₹14 per share for FY26, maintaining a consistent payout approach with nearly 49% payout of annual operating profits.
Technical Summary
NUVAMA stock is currently trading well above its 51-day EMA near ₹1,342, indicating strong bullish momentum. RSI around 69 suggests momentum remains elevated, though near overbought territory after the sharp breakout rally. This onwards, immediate resistance is visible near ₹1,600–1,650, while support is positioned around ₹1,480–1,500. Sustaining above breakout levels may keep the broader uptrend intact.
Chart by TradingView
Conclusion
Nuvama Wealth Management delivered another strong year of operational growth during FY26, driven by expanding client assets, rising recurring revenues, and strong execution across wealth, asset services, and private wealth segments. Continued investments in AI, digital infrastructure, and advisory-led offerings position the company favorably to benefit from India’s long-term wealth management opportunity.
FAQs
- Why is NUVAMA stock rising recently?
The stock gained momentum after strong FY26 earnings, growth in client assets, rising recurring revenues, and positive long-term outlook across wealth management businesses.
- What was Nuvama’s FY26 operating PAT?
Operating PAT increased 6% YoY to ₹1,049 crore during FY26.
- How much client assets does Nuvama manage?
Total client assets stood at ₹4,52,548 crore as of Q4FY26.