Shares of multibagger HDFC Asset Management Company (AMC) have been downgraded by Kotak Institutional Equities despite growth tailwinds remaining the strongest. The company’s outperformance over its peers is fully priced in at the current valuations, Kotak said in a note as it slashed the stock’s fair value to Rs 3,750, a 1.5% climbdown from Tuesday’s … Read more
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
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
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
NEW DELHI: (AMC) on Tuesday reported a 26.52 per cent growth in profit after tax (PAT) at Rs 316.08 crore for the three months to March 2021. In comparison, the company had posted a PAT of Rs 249.83 crore in the same period a year ago, HDFC AMC said in a regulatory filing to the … Read more
HDFC AMC, the second largest asset manager saw its profit after tax (PAT) fall 8% to Rs 337.9 crore, as compared to Rs 368.3 crore in the previous year. If one takes a change in taxation rates for September 2019, it is marginally up by 1%. The fund house revenue from operations in the quarter … Read more