I looked at HDFC AMC and compared it to nuvama. Sales are almost equivalent, profits are almost the same but market has given a higher valuation to HDFC AMC. In addition Nuvama has 9k cr of cash equivalents and 6k of debt. Whereas HDFC AMC has 5cr of cash equvalents and 0 debt. Nuvama seems better bet according to me and i think a fair valuation would be 30000 – 35000 cr. Am i missing any facet? Do share ur views on it
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