Neutral Anand Rathi Wealth Ltd For Target Rs. 4,500 by Motilal Oswal Financial Services Ltd

* Consistent AUM growth to be driven by equity and non-PP/ SP products.
* Yields to maintain the YoY improvement trajectory and to remain stable sequentially.
* Cost-to-income ratio is likely to improve due to economies of scale and operational efficiency.
* RM addition and productivity improvement will be the key growth drivers.
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