Bernstein sees attractive valuations in India's wealth managers; stocks rise

Valuations of India's wealth managers are attractive after the recent market decline due to the Iran war, says Bernstein, adding that buying capital market stocks is a great way to capture upside in a market recovery

Says wealth managers have shown solid execution on flows over the last few quarters, while concerns on client attrition from higher competition have also moderated

Refers to 360 One Wam ONEW.NS and Nuvama Wealth NUVA.NS as "attractive" and notes Anand Rathi Wealth ANAA.NS has shown surprising strength this year amid a broad market decline

Rates ONEW, NUVA "outperform" and ANAA "market-perform"; ONEW, ANAA up 2% on the day, NUVA rises 1.2%

Client assets are balanced across asset classes (equity and non-equity) and ultra high networth individuals (UHNI) and HNI clients are more resilient, aiding the industry, says Bernstein

ONEW, NUVA down 16.6% and 12.5% in 2026 so far, ANAA up 11.6%, exchange data shows