Shares of Nuvama Wealth Management Ltd surged more than 10% in morning trade on Friday, May 8, ahead of the company’s Q4 results announcement scheduled for Monday, May 11. Strong buying interest and heavy trading volumes lifted the stock close to its 52-week high during the session. The buzz on the street also indicates that the company is expected to post a strong set of Q4 results and the buying today is in anticipation of the same.
As of 10:53 AM IST, Nuvama Wealth Management touched an intraday high of Rs 1,629.90, compared to the previous close of Rs 1,474.50. The stock opened at Rs 1,474.50 and slipped to a day’s low of Rs 1,462.30 before witnessing a sharp rally.
The stock is now trading near its 52-week high of Rs 1,701.70, while the 52-week low stands at Rs 1,096.90.
Trading activity remained robust with live volume crossing 32.12 lakh shares, indicating strong investor participation ahead of the quarterly earnings.
Market participants are closely tracking the upcoming Q4 results, with expectations of healthy growth in the company’s wealth management and capital market businesses.
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