Home / Markets / News / HDFC AMC, UTI AMC: Charts suggest up to 15% rally in select AMC shares

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%

Web Exclusive Premium

AMC stocks

Avdhut Bagkar Mumbai

3 min read Last Updated : Jun 22 2023 | 12:17 PM IST

Listen to This Article

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%

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in