Shares of 360 ONE WAM Ltd gained 3 per cent in the morning trade after the company said its board would meet on January 19 to consider dividends, bonuses and a stock split as well as earnings for the December quarter.
The stock opened to touch a high of Rs 1,900 a share. At 11.32 am, it was trading at Rs 1,801 on BSE, up 2.3 per cent from its previous close.
At the meeting, the board would consider the declaration of the fourth interim dividend, if any, for the financial year 2022-23, a sub-division of equity shares of the face value of Rs 2 each, subject to various approvals, and also issue of fully paid-up bonus equity share(s) to the shareholders of the company in the ratio as it may deem fit, the company said in a release to exchanges.
The Mumbai-headquartered firm reported a 23 per cent year-on-year jump in net profit at Rs 173 crore in the September quarter. Its revenue rose 12 per cent from the year-ago period to Rs 405 crore during the second quarter of FY23.
360 ONE's AUM grew 5 percent YoY and 6 percent QoQ to Rs 2.7 trillion in the quarter. The company garnered net flows of only Rs 6,100 crore in the quarter but put out upbeat second-half guidance of at least Rs 200 billion in recurring net flows.