HDFC AMC surges 6% on strong Q2 results; NAM India hits 52-week high

HDFC AMC reported healthy performance in Q2-FY24 with around 4.7% QoQ growth in AUM to Rs 5.23 trillion and market share remaining steady at 11.2%

Shares of asset management companies (AMCs) were in focus on Friday, surging up to 6 per cent on the BSE in Friday's intraday trade in an otherwise weak market, after HDFC AMC reported healthy performance in the September quarter (Q2-FY24).

The HDFC Group company reported around 4.7 per cent quarter on quarter (QoQ) growth in asset under management (AUM) to Rs 5.23 trillion with market share remaining steady at 12.4 per cent.

Shares of HDFC AMC hit a 52-week high of Rs 2,910.70 as they rallied 6 per cent in the intraday trade today. The stock was trading