An artificial intelligence tool aimed at creating tax strategies sparked a selloff in wealth-management stocks Tuesday as investors fear the business could be at risk from automated advice.

Wealth management stocks slid after Altruist launched an AI tax-planning tool, raising fears of fee compression and market share shifts.

Upcoming Stock Split, Nuvama Wealth Management: Brokerage firm Citi has maintained a Buy rating on Nuvama Wealth Management and sees an upside of more than Rs 3000. The brokerage believes that the ...