Nuvama Q1FY27: Good quarter driven by asset services & wealth; Anugrah case proceedings begin

Research evidence excerpt

Nuvama Q1FY27: Good quarter driven by asset services & wealth; Anugrah case proceedings begin

oped European banks and Payments, the Bloomberg Europe 600 Insurance Price Return Index (E600IN)

for European insurers, the S&P 500 and S&P Financials for US banks and Payments coverage, S5LIFE for US Insurance, the S&P

Insurance Select Industry (SPSIINS) for US Non-Life Insurers coverage, the Bloomberg Emerging Markets Financials Large, Mid

and Small Cap Price Return Index (EMLSF) for emerging market banks and insurers and Payments, and the Bloomberg Japan

Financials Large & Mid Cap Price Return Index (JPFILM) for Japanese Financials. Ratings are stated relative to the sector (not the

market).

The Autonomous brand has three categories of common stock ratings:

• Outperform (OP): Stock will outpace the relevant index by more than 10 pp

• Neutral (N): Stock will perform in line with the market index to within +/-10 pp

• Underperform (UP): Stock will trail the performance of the relevant index by more than 10 pp

Coverage Suspended: Coverage of a company under the Autonomous research brand has been suspended. Ratings and price

targets are suspended temporarily, are no longer current, and should therefore not be relied upon.

Not Rated: A rating assigned when the stock cannot be accurately valued, or the performance of the company accurately

predicted, at the present time. The covering analyst may continue to publish research reports on the company to update investors

on events and developments.

Those denoted as ‘Feature’ (e.g., Feature Outperform FOP, Feature Under Outperform FUP) are our core ideas.

Not Covered (NC) denotes companies that are not under coverage.

Autonomous brand common stock ratings are based on a 12-month time horizon.

Autonomous brand – preferred stocks