India: IIFL Wealth Management, Nmdc Ltd and more

• IIFLWAM is on the verge of transitioning to earning majority of its revenue from a trail-based model as compared to a transaction-based one.
• It embarked on this journey from FY20 and had targeted to complete the same in three-to-four years.
• With a supportive market and conscious efforts, the transition is expected to be completed ahead of schedule, with benefits reaped from FY23 onwards.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

• After posting the highest ever annual production of iron ore (at 42mt) in FY22, NMDC has raised the bar and is now aiming at 46mt for FY23E and even higher for FY24E.
• The growth will be driven by both Chhattisgarh and Karnataka sectors.
• Our FY23 iron ore fines assumption is at a 10% discount to the CMP. Maintain BUY.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.