HDFC AMC, UTI AMC: Charts suggest up to 15% rally in select AMC shares

Selective AMC stocks like HDFC Asset Management Company and Nippon Life India Asset Management may rise up to 15%

Shares of asset management companies will be in limelight following SBI Mutual Fund increased its stake in HDFC Asset Management Company to 6.9 per cent from 2.9 per cent. 

In similar transaction, UK based Abrdn Investment Management offloaded 10.20 per cent stake in HDFC AMC through open market.

Shares of HDFC AMC on Thursday tumbled close to 2 per cent lower, while Nippon Life India Asset Management and UTI Asset Management Company gained 0.80 per cent and 0.50 per cent each.  

Here’s the technical outlook for assets management stocks:-

HDFC Asset Management Company Ltd (HDFCAMC)

Likely target: Rs 2,350

Upside potential: 12%