Anand Rathi Wealth share price: Prior to ex-bonus, the company's promoters had sold 350,000 equity shares, representing 0.72 per cent holding of the company, via open market.
Shares of broking companies were under pressure on Monday on concerns that any significant volatility in the market's performance can directly put pressure on their overall income profile.
Anand Rathi Wealth informed the stock exchanges that its promoters have sold 250,000 equity shares representing 0.6 per cent holding of the company via open market.
For capital market players, higher disposable incomes could support systematic investment plan (SIP), future & options (F&O) and cash volumes
Anand Rathi Wealth Ltd on Monday reported a 33 per cent year-on-year surge in consolidated net profit at Rs 77.3 crore in the December quarter. The company had posted a profit of Rs 58 crore in the year-ago period. In a statement, the company said its total revenue for the quarter under review stood at Rs 244.2 crore, a 30 per cent year-on-year (YoY) growth from Rs 187.3 crore in the same period last year. The leading wealth management firm, specialising in serving high and ultra-high-net-worth individuals, said its board of directors decided to allot bonus shares in the ratio of 1:1, which is one bonus equity share for every one equity share held presently. This is subject to shareholders' approval. During the nine-month (April-December) period of FY25, the company's total revenue was at Rs 739 crore, registering a growth of 33 per cent year-on-year, while profit after tax increased 34 per cent to Rs 227 crore. "India's economy continues to grow steadily, driven by rising income
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The company announced that its board will consider bonus issue in a meeting on Monday, January 13, 2025
The uptick in Anand Rathi share price came after the company reported a strong set of September quarter (Q2FY25) results.