HDFC AMC soars 22% in four days in a weak market on strong Q1 results

A sharp rally in the stock pushed the market capitalisation of HDFC AMC above Rs 50,000 crore mark in the intra-day trade today.

Shares of HDFC Asset Management Company (AMC) were trading higher for the fourth straight day, ralling 9 per cent to Rs 2,369 apiece on the BSE on Friday in an otherwise weak market, after it reported strong numbers for June quarter of financial year 2019-20 (Q1FY20). The stock was trading at the highest level since its listing on August 6, 2018.

In the past four days, HDFC AMC has rallied 22 per cent as compared to a per cent decline in the S&P BSE Sensex. It zoomed 90 per cent from its 52-week low level of Rs 1,248 touched on