HDFC AMC rallies 10% in two days on strong Q1 results, hits record high

AUM in actively managed equity-oriented funds, i.e. equity-oriented total AUM excluding arbitrage funds and index funds, grew to Rs 1.69 trillion as of June 30, 2019, with a market share of 16.2%

Shares of HDFC Asset Management Company (AMC) hit a record high of Rs 2,129, up 7 per cent intra-day on the BSE on Wednesday, after the company reported a 42 per cent year-on-year (YoY) jump in net profit at Rs 292 crore in the June quarter of fiscal year 2019-20 (Q1FY20). The strong profit growth was led by lower expenses and higher other income, the company's financial data show.

Assets under management (AUM) rose 18 per cent to Rs 3.57 trillion in Q1FY20. Among these, AUM in actively managed equity-oriented funds, i.e. equity-oriented total AUM, excluding arbitrage funds and