CareEdge Ratings upgrades Nuvama Wealth’s long-term rating

CareEdge Ratings has upgraded Nuvama Wealth Management’s long-term credit rating to CARE AA with a stable outlook, reaffirming its short-term rating at CARE A1+. This upgrade reflects Nuvama’s robust financial performance, consistent profitability, and diversified business model. The company’s client assets under advisory grew to Rs 4.3 lakh crore, with a profit after tax of Rs 985 crore for FY25.