Reliance Nippon, HDFC AMC rally up to 29% in 2 months; what lies ahead?

Analysts at Centrum Broking said the Indian mutual fund industry has several structural factors in place which will lead to its multi-year growth.

Asset management companies (AMCs), Reliance Nippon Life Asset Management and HDFC Asset Management Company (HDFC AMC), were trading in the positive territory in the morning deals on Monday. While Reliance Nippon surged as much as 2.54 per cent to Rs 364.80 apiece on the BSE, HDFC AMC hit a high of Rs 2,990, up nearly a per cent. 

In the past two months, shares of these two companies have outperformed the market. The stock of Reliance Nippon has surged around 29 per cent while that of HDFC AMC has climbed over 15 per cent. In comparison, the broader Nifty50 index has