In today’s briefing:
- Edelweiss: Retail Credit Business Is Now Scaling Up | Rest of the Businesses Continue to Grow Strong
Edelweiss: Retail Credit Business Is Now Scaling Up | Rest of the Businesses Continue to Grow Strong
- Edelweiss reported a decent Q4FY23. Across businesses, Edelweiss reported strong growth. The credit business is also now scaling up with Q4FY23 disbursements at INR 400cr in housing finance.
- The demerger of Nuvama Wealth Management is now complete with record date as Jun 2 2023. Nuvama is on track to list on the exchanges by the end of July.
- Based on our sum-of-the-parts valuation, Edelweiss can be valued at INR 15000cr+. At the current market cap of INR 4400cr, it is trading at a huge discount of 70%+.
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