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<ul><li>Listed <keyword id="21248103" type="General" weightage="20" keywordseo="Indian-wealth-managers" source="keywords">Indian wealth managers</keyword>’ stocks can gain from the ‘<keyword id="20220671" type="General" weightage="20" keywordseo="financialization-of-savings" source="keywords">financialization of savings</keyword>’ theme.</li><li>While banks manage the maximum of the HNI wealth, wealth managers are gaining traction in the UHNI space.</li><li>The number of UHNI is expected to see 50% growth in five years, says Knight Frank. </li></ul>Indians are saving better, if not saving more. A lot of Indian savings are being directed to equities and more. The total assets under management (AUM) of mutual funds as of February 2024 stood at ₹54.54 lakh crore. As such savings swell, equities in general can gain, but there are ‘specific’ stocks that can gain more from the trend in particular. According to Jefferies, broking firms, <keyword id="19948356" type="General" weightage="20" keywordseo="asset-managers" source="keywords">asset managers</keyword> and exchanges can ride on this ‘<keyword id="21248105" type="General" weightage="20" keywordseo="wealth-wave" source="keywords">wealth wave</keyword>’. The sector is poised for a sharp growth trajectory as more and more investors increasingly bet on equity markets and investments. As per a recent report by Motilal Oswal, the domestic MF’s equity AUM grew to ₹25.3 lakh crore in FY24, from a mere ₹1.9 lakh crore. “We believe Indian Wealth Managers (IWMs) are well-placed to ride on India's economic growth &amp; financialization of savings, especially into <keyword id="20033427" type="General" weightage="20" keywordseo="capital-markets" source="keywords">capital markets</keyword>. Leading players will benefit from strong inflows and operational efficiencies to deliver 20-22% profit compounded annual growth rate (CAGR) over FY24-27,” observes Jefferies. It initiated coverage on two companies – 360 One and Nuvama – with a buy call. Super-rich and their super-growth India's high net-worth individuals hold financial assets to the tune of $1-1.2 trillion. Institutional platforms manage over half of the same — with banks having a chunky share of around 30-33%. Next come wealth managers who manage around 12-14%, and global players have around 5-7% share. The rest are disaggregated with independent financial advisors and distributors or are self-managed. But wealth managers are fast gaining a share in the <keyword id="21248104" type="General" weightage="20" keywordseo="ultra-HNI" source="keywords">ultra-HNI</keyword> segment with around 80% of the market. Global players are receding and smaller banks lack bandwidth for personalised solutions, says Jefferies. UHNIs are defined as individuals with a net worth of US$ 30 million and over. Their number could swell fast, as per Knight Frank. According to The Wealth Report 2024 by the property consultant firm, UHNI numbers are expected to grow to 19,908 by 2028 from 13,263 in 2023 – that’s a 50.1% growth in UHNIs, in five years. They’re also expecting their coffers to grow. “Indian UHNIs are expecting to witness an increase in their wealth during the year 2024. Almost 63% are expecting to witness a significant increase of more than 10% in their wealth value,” Knight Frank says. Both these factors will add to the growth of Indian wealth managers. “Indian wealth managers’ share will be led by net inflows of 12-17% from higher wallet share in existing/new wealth &amp; network expansion in new geographies, and mark-to-market gains,” says Jefferies as it factors in around 8% CAGR growth from it. Mumbai has recently <a href="https://www.businessinsider.in/india/news/youre-more-likely-to-run-into-a-crazy-rich-asian-in-mumbai-as-opposed-to-beijing/articleshow/108787878.cms">surpassed Beijing as the billionaire capital of the world</a>. Adding that with buzzing equity markets, players in the business of wealth creation will be busy for the next few years.

India’s ‘wealth wave’ and the stocks that are poised to gain from it

A recent report by <keyword id="23201114" type="General" weightage="20" keywordseo="Centrum-Institutional-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Centrum Institutional Research" meta.hostid="261" meta.entityid="Centrum Institutional Research">Centrum Institutional Research</keyword> reveals a sharp rise in the number of <keyword id="21365016" type="General" weightage="100" keywordseo="wealthy-Indians" source="keywords">wealthy Indians</keyword> over the past five years. The data highlights that the number of individuals earning more than Rs 10 crore annually has surged by 63%, bringing the total count to approximately 31,800. Meanwhile, those earning over Rs 5 crore per annum now number 58,200, marking a significant 49% increase. <h2>Wealth growth across <keyword id="23201527" type="General" weightage="20" keywordseo="income-tiers" source="keywords">income tiers</keyword></h2>The report not only tracks the increase in high earners but also highlights growth among those earning above Rs 50 lakh annually. Over the last five years, this group has expanded by 25%, with nearly 10 lakh individuals now in this income bracket. In terms of cumulative income, the report showcases rapid growth. The income of individuals earning over Rs 10 crore annually grew at a compound annual growth rate (CAGR) of 121% between FY19 and FY24, reaching a staggering Rs 38 lakh crore. Those earning more than Rs 5 crore annually saw their collective income grow by 106% CAGR, amounting to Rs 40 lakh crore. Similarly, the income of those earning over Rs 50 lakh per annum increased by 64%, totaling Rs 49 lakh crore over the same period. <div type="Article" hostid="261" msid="113328057" title="The illegal maneuvers the rich use to get richer" mstype="2" mssubtype="0"></div>The Centrum report also forecasts significant growth for India's <keyword id="20301791" type="General" weightage="20" keywordseo="High-Net-Worth-Individuals" source="keywords">High Net Worth Individuals</keyword> (HNI) and <keyword id="21662893" type="General" weightage="20" keywordseo="Ultra-High-Net-Worth-Individuals" source="keywords">Ultra High Net Worth Individuals</keyword> (UHNI). By 2028, their combined financial assets are expected to rise from USD 1.2 trillion in 2023 to USD 2.2 trillion, driven by an annual growth rate of 13-14% over the period from 2023 to 2028. The <keyword id="23201526" type="General" weightage="20" keywordseo="mass-affluent-market" source="keywords">mass affluent market</keyword> is also projected to grow in early double digits during this time. <h2>A gap in professional <keyword id="20074812" type="General" weightage="20" keywordseo="wealth-management" source="keywords">wealth management</keyword></h2>While the wealth of India's affluent is growing rapidly, the report highlights a key difference between India and advanced economies: only 15% of financial wealth in India is professionally managed, compared to 75% in more developed markets. This gap suggests a significant opportunity for the professional wealth management sector as India’s wealthy population continues to grow. (With inputs from ANI)

Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028

<ul><li>HNI share by value in companies listed on NSE went down to 1.9%, in the third quarter as compared to the last quarter, said a <keyword id="198574" type="General" weightage="20" keywordseo="prime-database" source="Orion">Prime Database</keyword> report. </li><li>Infosys, Bajaj Finserv and Kotak Mahindra are among the top companies with HNI holdings by value. </li><li>Here are some of the top small cap stocks where HNIs holdings are over 40%. </li></ul>High networth individuals (HNIs) held stocks worth ₹5 lakh crore in NSE-listed companies, as on 31 September, 2022, as per a Prime Database report. Individuals with over ₹5 crore investible surplus are defined as HNIs. Those with over ₹25 crore of investible surplus are defined as ultra HNIs. “HNI share by value in companies listed on NSE went down to 1.9% as on September 30, 2022 from 2.08% as on June 30, 2022,” the report said. While Infosys, Bajaj Finserv and Kotak Mahindra are the top companies with HNI holdings by value, here are some small cap stocks where HNIs have the highest stake – all above 40%. <div type="image" title="HNI-" msid="95584991" hostid="261" sizebytes="59432"></div> Debcock Industries HNI holding: 52.3% Market cap: ₹118 crore This Rajasthan-based company runs a hotel in Deoli, manufactures agricultural products and has entered into the business of mining granite and marble near Kekri district in Ajmer. In the September quarter, its net profit stood at ₹7 crore on revenue at ₹45 crore. Hotel Rugby HNI holding: 44.87% Market cap: ₹7 crore The company that offers catering services to weddings and other events said in its annual report that it has not been earning from its main business activities, and is looking out for new business avenues. In Q2, it posted a net loss of ₹12.63 lakh, and ₹0.03 lakhs in revenue. Oriental Trimex HNI holding: 42.93% Market cap: ₹26 crore The Greater Noida-based company is engaged in the business of processing rough marble blocks into slabs and tiles. The company imports its raw materials, but also has a mining lease in Odisha. In Q2, it posted a net loss of ₹20 lakh and a revenue of ₹3.37 crore. Jyoti Structures HNI holding: 42.42% Market cap: ₹907 crore The company is engaged in the business of providing turnkey solutions for power transmission projects. It has two manufacturing units in Nashik and Raipur and also takes up projects internationally. In Q2, it posted ₹4 crore net loss, and 14 crore in revenue. Som Distilleries &amp; Breweries HNI holding: 42.33% Market cap: ₹777 crore As the name suggests the company manufactures alcoholic beverages like beer, whisky, vodka, gin, rum, and brandy along with non-alcoholic drinks like cranberry, orange, and tangy lemon fruit drinks. Zenith Steel Pipes &amp; Industries HNI holding: 42.28% Market cap: ₹72 crore The Mumbai-based manufacturer of steel pipes caters to various applications like water distribution, fire fighting systems, scaffolding and more. Nandani Creation HNI holding: 41.45% Market cap: ₹99 crore Nandani Creation is a fashion company that designs and produces women’s apparel like dresses, tunics, tops and more. The Rajasthan-based company also has a store named Amaiva. Cigniti Technologies HNI holding: 41.19% Market cap: ₹1,624 crore The Hyderabad-based company is primarily known for its software product testing services but also claims to offer digital engineering services to help accelerate the digital transformation of its clients.

These small cap companies have attracted big investments from high-networth individuals

<ul><li>The Finance Minister reduced the maximum tax rate, and that will push HNIs and UHNIs to invest more. </li><li>Home-grown and global AIFs with domicile in GIFT City are also expected to benefit from the tax incentives given in the budget, Crisil said. </li><li>Luxury imported cars and international travel will become expensive and deduction on capital gains on luxury home sales is capped too. </li></ul>The Union Budget 2023-24 is being hailed as the common man’s budget, but at the same time many diverse announcements might make things a tad difficult for high-networth and ultra- high-networth individuals (HNIs and UHNIs) in the coming year. First on the positives: finance minister Nirmala Sitharaman did recognise that the highest tax rate in the country is also the highest in the world at 42.74%. This is for those with an annual income of above ₹5 crore. She reduced the maximum tax rate to 39% by lowering the surcharge. This move, Crisil says, will push HNIs and UHNIs – who have an investible surplus of over ₹5 crore and ₹25 crore respectively, to invest more. “The reduction of surcharge at the highest tax bracket and its impact on the reduced incidence of taxation for individuals in the bracket is expected to improve their appetite for investing in alternative investment funds (AIFs), portfolio management services, and other alternate investment products,” said a report by ratings agency Crisil on the Budget impact. AIFs and family offices are also expected to benefit from measures announced in the Budget for startups – to extend the period of incorporation and carry forward losses. It enables the entire ecosystem of startups and the investor community. “Home-grown and global AIFs with domicile in GIFT City are also expected to benefit from the tax incentives given in the budget,” Crisil said. Last year,<a href="https://www.businessinsider.in/finance/news/9-in-10-super-rich-indians-get-richer-in-2022-knight-frank/articleshow/97033671.cms"> nine out of ten UHNIs from India</a> were able to grow their wealth in spite of the Russia-Ukraine conflict, rising interest rates and inflation. In fact, 35% of them were able to grow their wealth by more than 10%, said a report by Knight Frank, and were confident of it growing more in 2023. At 34%, equities constituted the largest chunk of the UHNI portfolio in 2022, as per the report. Importing cars &amp; travelling abroad gets costlier And now to the not-so-good news for the HNIs and UHNIs. Taking money abroad has been complicated as all remittances abroad – with the exception of education via loan and for medical reasons – will be subjected to a 20% tax collected at source (TCS). This will impact investments abroad, which will be taxed at 20%, without any threshold limit. International travel will also become costlier. “One budget proposal that will negatively impact the industry is the move to increase the TCS mandate from 5% to 20% on overseas tour packages. This will not only increase the upfront cash outflow for customers but will also give an unfair advantage to foreign-based online travel booking platforms over India-based travel agents and tour operators,” said Rajesh Magow, co-founder and group CEO of MakeMyTrip. Luxury cars, yet another favourite asset class that India’s rich and super-rich are keen on will also get expensive. The Budget 2023-24 increased customs duty on these cars that are imported – affecting those who love Lamborghinis, Mustangs, Ferraris and more. The FM raised the customs duty from 60% to 70%. "The policies chalked out for the automobile industry incurring increased duty rate is very unlikely to have any impact on the entry-level luxury vehicle segment,” said Sumit Garg, co-founder and MD, Luxury Ride. But those keen on buying high-end models of Mercedes, Land Rover, Porsche and Aston Martin with engine capacities over 3,000cc will have to shell out more. REITs &amp; luxury homes The FM has also proposed to limit deductions from capital gains on investments into residential houses under Sections 54 and 54F to ₹10 crore. “This essentially means that if one sells a house, and gains are more than ₹10 crore, then maximum benefit they can avail is up to ₹10 crore when invested into another property. Capital gains of over ₹10 crore will now be taxed. This is a negative on this segment as previously there was no such cap,” said Anuj Puri, chairman of Anarock group, an investment consultancy. According to the Knight Frank report, UHNIs, in particular, love purchasing residential properties, and the Indian super-rich own 5.1 residences on an average – higher than that of their global counterparts. Moreover, in 2022, about 14% of UHNIs purchased a home, and about 10% are expected to make a new home purchase in 2023. If they indeed do, in the new financial year, they would have to add in the tax element into its resale value. However, the report says that India’s super-rich investments in real estate go beyond residential properties. A significant portion of UHNI wealth – as much as 25% – was allotted to commercial properties in 2022, either directly through ownership or indirectly through funds. This includes directly in the form of assets, and indirectly via funds and REITs or real estate investment trusts. It might look like some of these investments need to be recalibrated as per the Budget proposals – income distributed through redemption of units by business trusts such as REITs and InvITs or infrastructure investment trusts, is to be taxed in the hands of unit holders. “REITs/InvITs, which have emerged as an attractive tool for investment, may see some short-term volatility but are expected to remain an efficient option for investors looking to park funds in India’s promising real estate and infrastructure markets,” said Crisil. In addition, the Budget has also taxed the maturity and surrender amount of non-ULIP insurance policies, if the premium paid by an individual is over ₹5 lakh a year. This could also be bad news for policyholders who purchase high-ticket non-ULIPs in the affluent segment. All in all, the government is leaving more in the hands of India’s rich along with the common man – but for the former, it is redrawing the landscape for saving, investing and spending. SEE ALSO <a href="https://www.businessinsider.in/budget/news/budget-2023-24-nirmala-sitharaman-speech-highlights-and-updates/articleshow/97512649.cms">Budget 2023-24 highlights: Those with income below ₹7 lakh a year need not pay income tax</a> <a href="https://www.businessinsider.in/finance/news/brides-buy-half-of-all-gold-jewellery-sold-in-india-says-world-gold-council-report/articleshow/97168432.cms">Brides buy half of all gold jewellery sold in India says World Gold Council report</a>

India’s rich to shell out more for luxury cars, global travel but may have more to invest

<ul><li>A total of 58 ultra-luxury homes have been sold across the top 7 cities in 2023 to date.</li><li>Apartments continued to be the favoured property choice among high net worth individuals (HNIs), comprising 53 out of 58 deals.</li><li>The surge in sales of <keyword id="386983" type="General" weightage="20" keywordseo="luxury-homes" source="Orion">luxury homes</keyword> is also linked to the reconfiguration of HNI investment strategies. </li></ul>A 19,000 odd sq ft apartment in <keyword id="1159814" type="General" weightage="20" keywordseo="Malabar-Hills" source="Orion">Malabar Hills</keyword> Mumbai costs almost ₹100 crore more than a Bungalow in <keyword id="19667909" type="General" weightage="20" keywordseo="Golf-Link-Delhi" source="Orion">Golf Link Delhi</keyword>! While we all know that Mumbai property is more expensive than in Delhi, is that the only reason? Research data by real estate services company ANAROCK throws up some interesting insights on ultra-luxury homes (priced &gt;₹40 Cr). The report reveals how the ultra-rich think when it comes to buying a home. The ultra-wealthy also have distinct FOMO Among affluent Indians, there exists a discernible fear of missing out (FOMO) when it comes to securing the most coveted properties. This urgency to acquire the most desirable options before others contributes significantly to the heightened interest and transactions in this niche market segment. Not surprisingly, ANAROCK Research data reveals a 247% annual increase in the total sales value of ultra-luxury homes from the beginning of 2023 compared to the entire year of 2022. Says Anuj Puri, Chairman, ANAROCK Group,, “A total of 58 ultra-luxury homes have been sold across the top 7 cities in 2023 to date, for a collective sales value of approx. ₹4,063 Cr. In contrast, the whole of 2022 saw a total of 13 ultra-luxury homes sold in these cities for a total sales value of approx. ₹1,170 cr. In terms of ultra-luxury property sales, 2023 has already made Indian real estate history even before it is over.” Apartments remain the preferred property type Apartments continued to be the favoured property choice among HNIs, comprising 53 out of 58 deals, while the remaining five transactions were for bungalows. Approximately 79% of these transactions were carried out by business professionals, with an additional 16% facilitated by senior executives from various diverse sectors. The remaining 5% of deals involved politicians and Bollywood celebrities. Surge in sales linked to reshuffling of HNI investment portfolios This surge in sales of luxury homes is also linked to the reconfiguration of HNI investment strategies. Concerns about potential stock market volatility, largely influenced by ongoing geopolitical tensions, have prompted a shift in investment portfolios. Consequently, there's been a notable inclination towards investing in ultra-luxury homes as a more stable and secure asset class. The response from top-tier Grade A developers further validates this trend. These developers are amplifying their efforts to introduce more properties within the ultra-luxury category, catering to this escalating demand. Also, the demand for luxury and ultra-luxury residences has notably increased post-pandemic. HNIs and ultra-HNIs are actively purchasing such homes, viewing them as lucrative investments, as well as for personal use. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#a054a0;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#a054a0;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Micro-market </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#a054a0;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Property-Type </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#a054a0;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Cost (₹/Crore) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#a054a0;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area (in Sq. Ft.) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Worli </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apartment </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">230 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">29,885 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Malabar hill </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Penthouse </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">253 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,624 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Malabar hill </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apartment </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">369 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">27,160 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Golf Links </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bungalow </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">160 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,440 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Malabar hill </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apartment </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">263 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,254 </td></tr></tbody></table> Source: ANAROCK Research

FOMO and market volatility concerns key behind wealthy Indians lapping up ultra-luxury homes

10 best tax-saving investments

<ul><li>Axis Bank has launched an ultra-premium credit card for UHNIs.</li><li>The <keyword id="23066078" type="General" weightage="20" keywordseo="Axis-Bank-Primus-credit-card" source="keywords">Axis Bank Primus credit card</keyword> is among the most expensive credit cards in India.</li><li>Here’s everything you need to know about the ultra-premium credit card from Axis Bank.</li></ul>Credit cards have become a major part of India’s financial landscape in recent years. What was once seen as a luxury for the wealthy has now become more common with banks offering various benefits including <keyword id="19957380" type="General" weightage="20" keywordseo="lounge-access" source="keywords">lounge access</keyword> at airports, free tickets and more. Cards range from free cards for normal users to cards with thousands or lakhs in fees, aimed at high net worth (HNI) individuals. Axis Bank recently introduced Primus, the company’s ultra-premium credit card that is aimed at ultra-high net-worth individuals. <h2><keyword id="23066081" type="General" weightage="100" keywordseo="Axis-Bank-Primus" source="Orion">Axis Bank Primus</keyword> credit card <keyword id="23066080" type="General" weightage="20" keywordseo="annual-fee" source="keywords">annual fee</keyword></h2>The Axis Bank Primus credit card has a joining fee of ₹5 lakh, which increases up to ₹5.9 lakh when we include GST. In addition to this, the card has an annual fee of ₹3 lakh, which goes up to ₹3.54 lakh after including GST. This makes it the <keyword id="23066079" type="General" weightage="20" keywordseo="most-expensive-credit-card" source="keywords">most expensive credit card</keyword> in India, beating the Amex Centurion, which has a joining fee of ₹8.26 lakh and an annual fee of ₹2.95 lakh. <h2>Axis Bank Primus credit card benefits</h2><h3>Joining benefit</h3>As part of a joining bonus, users get the option to choose from either an ₹40,000 voucher from ITC or 25,000 Axis Edge Miles. <h3>Renewal benefit</h3>Users who pay the renewal fee get either an ₹20,000 voucher from ITC or 15,000 Axis Edge Miles. <h3>Lounge benefits</h3> Unlimited domestic and international lounge access for the primary card and add-on card holders. <h3>Travel benefits</h3> <ul><li>The card offers the following travel benefits: </li><li>Zero forex markup </li><li>Unlimited complimentary domestic airport meet and greets </li><li>Complimentary companion airfare </li><li>Up to 15% savings on international First and Business class fares </li><li>Complimentary upgrades at selected hotels across the world </li><li>Exclusive access to top restaurants across the world </li><li>Access to exclusive events and bespoke travel itineraries </li></ul><h3>Golf</h3> <ul><li>Four complimentary green fees at participating clubs for the primary cardholder at international courses. </li><li>Unlimited golf access via complimentary green fee and buggy in India. </li></ul><h3>Partners for miles transfer</h3>Air Asia, Air Canada, Air France – KLM, Air India, Air Vistara, Accor, Ethiopian Airlines, Etihad Airways, IHG Hotels &amp; Resorts, ITC, Japan Airlines, Marriott International Qantas Airways, Qatar Airways, Singapore Airlines, SpiceJet, Thai Airways, Turkish Airlines, United Airlines and Wyndham Hotels &amp; Resorts. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/fada-urges-banks-to-tighten-funding-to-dealers-as-rains-play-spoilsport-in-august/articleshow/113111945.cms">FADA urges banks to tighten funding to dealers as rains play spoilsport in August</a> <a href="https://www.businessinsider.in/tech/mobile/news/india-beats-the-us-to-emerge-as-the-second-biggest-market-for-5g-smartphones/articleshow/113095322.cms">India beats the US to emerge as the second-biggest market for 5G smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-launch-on-september-9-design-specs-and-everything-we-know-so-far/articleshow/113091114.cms">Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far</a>

Here are the benefits you get with India’s most expensive credit card with a ₹3.54 lakh annual fee

<ul><li>India’s billionaires are expected to grow to 195 by 2027, says a <keyword id="6363605" type="General" weightage="100" keywordseo="knight-frank" source="Orion">Knight Frank</keyword> wealth report. </li><li>India has new opportunities in manufacturing, infrastructure, tech and more, which will aid wealth creation, says Shishir Baijal, CMD of <keyword id="151748" type="General" weightage="50" keywordseo="knight-frank-india" source="Orion">Knight Frank India</keyword>. </li><li>Even as the number of <keyword id="109161" type="General" weightage="20" keywordseo="hnis" source="Orion">HNIs</keyword> and billionaires in India grew in 2022 from the year before, the number of <keyword id="2291394" type="General" weightage="20" keywordseo="uhnis" source="Orion">UHNIs</keyword> fell by 7.5%. </li></ul>As of 2022, India is home to 797,714 high-net-worth individuals (HNIs), or those whose asset value is at $1 million or more. Such individuals will double in number – growing at a massive 108% in the next five years to 1.7 million, estimates a report by Knight Frank. India’s ultra-high-net-worth individuals (UHNWIs), with net worth over $30 million are estimated to grow by 58.4% from 12,069 in 2022 to 19,119 individuals in 2027. India’s billionaires are expected to grow from 161 to 195 by 2027, says Knight Frank’s ‘The Wealth Report 2023’. “India’s hectic development activities in core and non-core sectors has helped accelerate economic growth in recent times. Aligned to that is India’s significant position as a global startup hub creating new wealth,” said Shishir Baijal, chairman and managing director, Knight Frank India. Added to that, India has new opportunities emanating from sectors like global manufacturing in India, infrastructure development, technology startups etc. According to Baijal, this will propel economic momentum and help the cause of wealth creation in the country, leading to the rise in the number of wealthy individuals in India. Wealth distribution in India <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2027 E </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HNIs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">809,666 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">763,674 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">797,714 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,657,272 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UHNIs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,529 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,048 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,069 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,119 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Billionaires </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">102 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">145 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">161 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">195 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Knight Frank Research Slowdown in global UHNI population Even as the number of HNIs and billionaires in India grew in 2022 from the year before, UHNIs dipped by 7.5%, tracking the global trend. In 2022, the global UHNI population fell by 3.8%, after it registered a record breaking growth of 9.3% in 2021. This is due to the strong economic rebound in 2021 and its quick reversal in 2022. The total wealth held by UHNIs also fell by 10% in 2022. “The fall last year in the total number of UHNWIs globally was due in large part to the weak -performing equities and bond markets. On the flip side however, 100 prime residential markets globally saw average price growth of 5.2% and luxury investment assets grew 16%, which helped steady the decline,” said Liam Bailey, global head of research at Knight Frank. In spite of the dip, the global UHNI population grew by 44% in the five years to 2022. “Although we forecast growth to slow to 28.5% over the next five years, the recent dip will prove short lived as we adapt to a new economic environment,” Bailey said. While the world’s UHNI population contracted last year, the number of high-net-worth individuals (HNIs) expanded by 2.9% to number almost 70 million worldwide – only Europe as a region saw HNI numbers dwindle. The number of billionaires meanwhile declined by 5% to 2,629. The report also says that the first four months of 2023 have seen the mood shift to that of greater optimism — improving the chances of wealth creation going ahead.

India’s super rich will double to 1.6 million by 2027: Knight Frank

<ul><li><keyword id="6358021" type="General" weightage="50" keywordseo="budget" source="Orion">Budget</keyword> announcement of 20% tax on foreign investments to make investments in the US markets less appealing. </li><li>Direct investments in the US markets remain viable only for a tiny minority of high and ultra high-networth individuals (HNI/UHNIs). </li><li>Retail investors should consider exposure to the US markets through Indian mutual funds that invest in US <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword> and funds. </li></ul>While one cannot buy a Tesla car in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> yet, one can buy shares of the electric vehicle (EV) giant. Similarly, one can also invest in shares of Apple, Meta (earlier Facebook), Alphabet (parent company of Google) and other US tech giants. To invest directly in US stocks from India, one needs to send money abroad under the liberalised remittance scheme (LRS). However, a budget proposal to impose a 20% tax collected at source (<keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword>) on foreign remittances under LRS without any threshold limit has made investing directly in foreign stocks, especially in US stocks, less attractive for investors. Earlier, a 5% TCS was applicable on outward remittances above ₹7 lakh. <cmsannotation type="cmsannotation" annotationid="20% tax on foreign investments to hit retail investors hard" comment="subhead2" text="20% tax on foreign investments to hit retail investors hard">20% tax on foreign investments to hit retail investors hard</cmsannotation> Manish Chowdhury, head of research at Stoxbox, a subscription-based value broker, says “The budget proposal would prove to be a deterrent for small-time investors, as it would mean a large upfront cash outflow. Moreover, we believe that the change in TCS will adversely affect investing platforms, especially aimed at retail investors, who are more glued to direct investing in international stocks.” Currently IndMoney and Vested Finance are two such platforms that help Indian investors invest in US stocks and exchange-traded funds (ETFs). Pratik Oswal, head, ETFs and Index Funds, Motilal Oswal Financial AMC says that since this means that 20% of the sum invested abroad will be used for tax purposes and locked away at zero-percent interest till you file your taxes, it will mean an additional cost to the investor. It is to be noted that the tax paid can be claimed as credit. “While the TCS of 20% is a sentiment damper for Indians who would like to create a corpus outside of India and invest to meet future dollar commitments, it should not be confused as a sunk cost or additional cost. The TCS will be reflected as tax credit in your Form 26AS. So, the amount of TCS can be claimed as credit against tax payable while filing income tax returns,” says Sumita Pillai, chief executive officer of Torus Private Wealth. In case the TCS is higher than your tax payable, you will get a refund. <cmsannotation type="cmsannotation" annotationid="Direct investments in the US markets to get costlier" comment="subhead2" text="Direct investments in the US markets to get costlier"> Direct investments in the US markets to get costlier</cmsannotation> In another development, in January 2023, RBI asked SBM Bank to stop LRS transactions till further notice. Both IndMoney and Vested Finance have tie-ups with SBM Bank to make the process of investing faster and cheaper. “Vested Direct, our unique, low-cost digital fund transfer solution is supported by SBM India. With the help of Vested Direct, we were able to lower the overall cost of depositing funds to investors,” says Viram Shah, founder and CEO, Vested Finance. However, after the RBI directive, that is no longer possible. Shah clarifies that the introduction of this ruling means they will not be processing any new deposits using Vested Direct in the interim. This means that investing abroad through the LRS route is now more cumbersome and costly, the way it was a few years ago. This is definitely a dampener when it comes to Indians investing abroad. <cmsannotation type="cmsannotation" annotationid="Alternative option for investing in the US markets" comment="subhead2" text="Alternative option for investing in the US markets">Alternative option for investing in the US markets</cmsannotation> The above platforms provide investors an option to directly invest in US stocks. However, Indian investors can also get exposure to the US markets indirectly through international mutual funds that invest in the US stock markets. Says Chowdhury, “With the policy change, investing in equities globally through a direct route has definitely become more expensive. However, investors can continue to take exposure in global equities through mutual funds and ETFs because they are still exempt from LRS. We continue to advise small investors to invest in global equities through the indirect route as it saves them from the hassles of setting up the infrastructure for direct investing and also does not involve upfront costs.” Agrees Oswal, “Investors looking at global options should look at mutual funds because they are a lot cheaper right now.” However, a lot of these mutual funds in India cannot accept fresh <keyword id="6355120" type="General" weightage="20" keywordseo="Investment" source="Orion">investment</keyword>s because they have either already exhausted or are about to exhaust the limit of $7 billion to invest in overseas securities and funds. The entire industry is hoping for higher limits to be put in place. “When these mutual funds stop accepting fresh investments, direct investments outside of India via LRS will be the only route available to invest outside of India. That route will make sense for only a very tiny minority of HNIs ( high-networth individuals) and UHNIs (ultra high-networth individuals),” says Avinash Luthria, a financial planner &amp; SEBI registered investment advisor, referring to high and ultra-high-networth individuals. Investors who want to invest in the US market through mutual funds should reach out to the asset management company (AMC) and find out which funds are still accepting fresh investments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/india-a-long-term-investment-destination-even-among-g-20-countries/articleshow/97875443.cms">India a long-term investment destination even among G-20 countries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/passenger-vehicles-recorded-highest-ever-sales-this-january-says-siam/articleshow/97874958.cms">Passenger vehicles recorded highest-ever sales this January says SIAM</a>

20% tax on foreign remittances make foreign investments unviable for retail investors

<ul><li>Anand Rathi Wealth, the wealth management company that caters to high and ultra-high net worth individuals is opening its IPO on December 2 and will close on December 6.</li><li>The IPO is completely an offer for sale of 1.2 crore shares by promoters and existing shareholders.</li><li>Shares of the company are already demanding a premium of ₹125 per share ahead of IPO opening date.</li></ul>The wealth management arm of the well-known fintech firm Anand Rathi is all set to go public on stock exchanges. Anand Rathi Wealth, the wealth management company that caters to high and ultra-high net worth individuals (HNIs), is opening its IPO on December 2 and will close on December 6. The IPO is a complete offer for sale of 1.2 crore shares by Anand Rathi Financial Services, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust acting through Rakesh Rawal, Jugal Mantri, and Feroze Azeez. The company manages assets under management (AUM) of ₹26,058 crore as on March 31, 2021. In the wealth management space, IIFL Wealth Management leads the sector in terms of highest asset under management (AUM) and profitability. Also, the peer company’s stock, which is listed on exchanges, has gained 43% in 2021 so far and share price stands at ₹1,472. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wealth management players </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profitability in FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Wealth Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹369 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹45 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Advisory </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹245 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Wealth Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹27 crore </td></tr></tbody></table> Anand Rathi has a dominant position in the distribution of financial products, with a focus on the growing HNI segment. Currently, Anand Rathi Wealth is present across 11 cities in India -- Mumbai, Bengaluru, Delhi, Gurugram, Hyderabad, Kolkata, Chennai, Pune, Chandigarh, Jodhpur and Noida with a representative office in Dubai. <div type="image" title="anand rathi rev" height="900" width="1200" msid="88029174" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/amazon-and-flipkarts-biggest-rival-in-buy-now-pay-later-just-raised-40-million/articleshow/88027181.cms">Amazon and Flipkart’s biggest rival in ‘Buy Now, Pay Later’ just raised $40 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/investment-platform-upstox-comes-up-with-quick-ipo-application-process-through-whatsapp/articleshow/88025420.cms">Investment platform Upstox comes up with quick IPO application process through Whatsapp</a>

Anand Rathi Wealth’s ₹660 crore IPO demands ₹125 GMP ahead of opening date

<ul><li>This year, mid and small caps have underperformed as compared to the benchmark indices.</li><li>Currently, the Nifty small cap PE ratio is at 0.7 times <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword>, shares <keyword id="12460175" type="General" weightage="20" keywordseo="InCred-Wealth" source="Orion">InCred Wealth</keyword>.</li><li>InCred Wealth believes that the small cap market segments are relatively under researched, and offer a significant valuation cushion currently.</li></ul>In 2022, <keyword id="135898" type="General" weightage="20" keywordseo="small-cap-stocks" source="Orion">small cap stocks</keyword> have corrected and this fall is an opportunity for investors to build their small cap portfolio, Yogesh Kalwani, head of investments at InCred Wealth said on Tuesday. Currently, the Nifty small cap PE ratio is at 0.7 times Nifty50. As per InCred Wealth, whenever small caps PE traded at 0.7 times that of Nifty50 or lesser, they have given relative outsized returns over the next one, three and five year holding periods. “Historically this number was about two times, which means they always mostly traded at a premium, there were patches in which they traded at a discount to Nifty50. So on a relative basis it is reasonably valued, it is attractively placed,” said Kalwani. For investors with enough cash to invest, InCred Wealth suggests buying equities in a staggered way from a mid-long term perspective. They however have to be aware that markets will remain turbulent in the immediate future. However, over the investment horizon of more than two years, equity will deliver double digit returns, the investment firm says. InCred Wealth suggests one can also choose portfolios that have a mid/small cap bias and that are carefully curated by active portfolio managers. “Going forward in one year or so you will see a lot more outperformance which can be generated by stock selection, sector themes and midcaps and small caps. Why so because the rally in Nifty50 probably in the last one week has been quite narrow. The broader market has not participated in this uptrend so that’s something which as a segment of the market will probably look up and give positive returns and there is an alpha which can be generated from this segment,” Kalwani said in a session on small cap stocks. Small cap stocks are relatively more volatile than large caps as they are typically young companies with more risk, but tend to offer huge growth opportunities. So far this year, mid cap and small caps have under performed the benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty50. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in year-to-date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BSE Smallcap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Midcap 100 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.11% </td></tr></tbody><tbody></tbody></table> Look beyond Nifty50 InCred Wealth believes investors need to look beyond the benchmark indices which will offer limited returns in the near term. “Nifty offers limited near-term upside from here as the outcome will be a function of pushes and pulls of global and local macro, and improved margin of safety (P/E de-rating or stronger growth),” said Kalwani. Moreover, the investment company sees earnings growth to moderate in the next few quarters because of persisting inflation, high input costs eventually impacting corporate earnings. “While inflation could have peaked, impact on growth will be felt over the next few quarters. Earnings outlook in the immediate term looks uncertain. Higher input costs will act as headwind for corporate margins. Inflation persistence (though peaked) may cause demand slowdown. We expect moderation in earnings growth for Nifty Index over next 1-2 quarters,” said Kalwani. Some of today's large caps which were small caps at one point in time <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap as on Mar 31, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap as on Apr 2, 2009 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CAGR </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.39 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹449 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.71 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,785 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹77,232 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,719 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹67,184 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹600 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹86,711 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,692 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr></tbody><tbody></tbody></table>Source: InCred Wealth InCred Wealth believes that the small cap market segments are relatively under researched, have a larger universe to choose from and offer a significant valuation cushion currently. Small caps make up for the majority of the Indian listed companies. The first 100 companies are large cap on the stock exchanges, between 101-250 are mid-cap, and companies listed from 251 and below are small cap companies. InCred Wealth manages over $1.5 billion or ₹10,500 crore of AUM with 1,900 high net worth (HNIs), ultra HNI clients and over 80 relationship managers across nine cities in two years of its inception. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adia-commits-500-mn-to-kotak-investment-advisors-1-bn-real-estate-fund/articleshow/95532819.cms">ADIA commits $500 mn to Kotak Investment Advisors’ $1 bn real estate fund</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/95-indian-companies-experiencing-new-types-of-fraud-after-covid/articleshow/95530428.cms">95% Indian companies experiencing new types of fraud after Covid</a>

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