Kotak Equities downgrades multibagger HDFC AMC, upgrades Aditya Birla Sun Life to Add

Kotak Equities downgrades multibagger HDFC AMC, upgrades Aditya Birla Sun Life to Add

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

PFC, HDFC AMC, Cummins likely to enter MSCI Global

PFC, HDFC AMC, Cummins likely to enter MSCI Global

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

CS initiates coverage on AU Bank; CLSA bearish on Maruti Suzuki

CS initiates coverage on AU Bank; CLSA bearish on Maruti Suzuki

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

HDFC AMC Q4 results: PAT rises 27% to Rs 316 cr; firm announces dividend of Rs 34

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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