AMC shares scale 52-week highs; HDFC, Nippon, Aditya Birla rally up to 5%

Shares of asset under management (AMC) companies were in demand on Tuesday as robust systematic investment plan (SIP) inflows helped sustain assets under management (AUM) growth momentum in January.

Shares of asset under management (AMC) companies were in focus, rallying up to 5 per cent in intra-day deals on Tuesday as robust systematic investment plan (SIP) inflows helped sustain assets under management (AUM) growth momentum in January. In the process, select stocks also hit their respective 52-week highs.

Among individual stocks, HDFC Asset Management Company surged 5 per cent to Rs 4,066, followed by Nippon Life India Asset Management Company - up 4 per cent to Rs 542.55 and Aditya Birla Sun Life AMC (3.4 per cent at Rs 521.70) on the BSE. In comparison, the S&P BSE Sensex was