Mumbai: Stocks of Power Finance Corporation, HDFC Asset Management Company, IDFC First Bank, Ashok Leyland, Cummins India, and Astral are likely to be included in the MSCI Global Standard Index in its forthcoming rejig to be announced on August 11, according to Nuvama Alternative & Quantitative Research. IDFC First Bank is expected to see inflows … Read more
Mumbai: Analyst downgrades in earnings estimates of Indian companies for FY24 outnumbered that of upgrades in the past four weeks after the June quarterly results. Out of the Nifty 100 companies, 41 including UPL, Tech Mahindra, Vedanta, SRF, ACC, Grasim, and Tata Steel, among others, witnessed Earnings Per Share (EPS) downgrades for FY24, while 32 … Read more
Shares of domestic mutual funds rallied up to 14% on Friday after the capital markets regulator deferred its decision to cut the total expense ratio (TER)– the fee that these asset management companies charge unitholders. The reduction in the expense ratio as proposed by the Securities and Exchange Board of India earlier, would have hit … Read more
Mutual funds have been consistent buyers of Indian shares even when foreign institutional investors were sitting on the fence until the early part of 2023. This has paid off well as some of the favourite stocks of mutual funds have seen significant appreciation in prices, with some even turning into multibaggers within a year, data … Read more
Mumbai: Traders have mounted bullish bets on HDFC Asset Management Co and Shriram Finance as the recent exit of large investors in these companies are seen to remove the share supply overhang. Analysts said both stocks are likely to be outperformers in the coming months. HDFC AMC shares rallied 11.28% on Tuesday after Abrdn Investment … Read more
Promoter Abrdn has sold its entire stake in HDFC AMC through block deal on Tuesday and earned about Rs 4,079 crore. According to the block deal data available with the exchanges, Abrdn has sold 2.18 crore shares or 10.2% stake in the company at Rs 1,873 apiece. Further, data showed that prominent investors lapping up … Read more
US-based GQG Partners, which has invested in the crisis-ridden Adani group, has sold its part stake in HDFC Asset Management Company (AMC) through open market transactions on Monday. GQG Partners has sold about 24.7 lakh shares or 1.16% equity in the company for nearly Rs 397 crore. The deal was executed at an average weighted … Read more
“I think we should have a positive stance on the market because when we look at the earnings, when we look at the other data points in terms of monthly numbers and GST etc. it gives you a feel that we are in a good growth trajectory,” says Hemang Jani, Equity Strategist & Senior Group … Read more
One of the longest serving mutual fund manager Prashant Jain‘s tendering his resignation at HDFC AMC has brought in a flood of emotional tweets for the ‘Doland Bradman‘ of the mutual fund industry. Jain, who exited as CIO of after 19 long years and was with the fund house for decades, had the unique distinction … Read more
New Delhi: With volatility in the domestic equity markets increasing, global brokerage firms have turned negative on select underperformers of Dalal street. Credit Suisse has initiated its coverage on with a target price of Rs 510, which is 18 per cent lower than the last close of Rs 621.90. The stock is trading at 3.2x … Read more