Anand Rathi Wealth hits record high, soars 8% on strong Q2 results

Anand Rathi Wealth reported strong growth in asset under management (AUM) of 16 per cent YoY at Rs 35,842 crore.

Shares of Anand Rathi Wealth hit a 52-week high of Rs 732.45 as the stock soared 8 per cent on the BSE in Friday’s intra-day trade after the company reported a strong 41 per cent year-on-year (YoY) growth in consolidated net profit at Rs 43 crore, on back of healthy revenue growth. Total revenue increased 33 per cent YoY at Rs 138 crore during the quarter.

The stock of non-bank wealth solutions firm surpassed its previous high of Rs 712, which it touched on April 19, 2022. The company made its stock market debut on December 14, 2021. It