AMC rally likely to gain further steam after robust Q2 performance

Brokerages up targets as AMCs deliver earnings surprise

After a robust performance in the second quarter (Q2), analysts believe that shares of asset management companies (AMCs) are poised for further gains, despite having surged significantly in the past year.

 

Most brokerages have raised the target price for all the four AMC shares.  

HDFC AMC, the largest among the listed AMCs, reported a 32 per cent year-on-year (Y-o-Y) jump in net profit at Rs 577 crore. The profit went up by 47 per cent for Nippon India AMC. Aditya Birla Sun Life (ABSL) AMC and UTI AMC reported a 36 per cent and 31 per cent jump in profits,