Page 6 - Hdfc Amc

Brokerages raise ratings on Nippon, HDFC AMCs following better Q3 show

Among the four listed AMCs, two report profit growth in Q3, other two see a decline

HDFC AMC's Q3 profit up 3% to Rs 369 cr, revenue rises 1.8% to Rs 560 cr

Profit for the nine months ended December 31, 2022 was flat at Rs 1,048 crore

UTI, HDFC AMC top bets among asset managers; charts hint up to 17% rally

The overall trend for asset management shares continues to remain bullish, say charts.

Abrdn stake sale to boost passive flows in HDFC AMC, say analysts

Deal could add to asset manager's investability weight in MSCI and FTSE indices, lead to higher foreign inclusion factor, they say

Sensex falls 216 pts, Nifty below 18,600 on RBI's moderately hawkish policy

CLOSING BELL: The central bank increased repo rate by 35 basis points and lowered GDP growth forecast for FY23 to 6.8 per cent as it remained cautious of a sticky core inflation amid global turmoil

HDFC AMC gains 3% as promoter abrdn plans to sell entire 10.2% stake

abrdn Investment Management is to place up to 21.12 million shares (i.e. 9.9 per cent) with a single buyer with the rest being sold separately, subject to feasibility.

Stocks to Watch: HDFC AMC, Voda Idea, IDBI Bank, Bikaji, Axis, ICICI Bank

Stocks to Watch Today: Shares of rate sensitive sectors such as auto, banks, NBFCs and real estate are likely to be in focus owing to the RBI policy announcement on Wednesday.

Promoter abrdn Investment to sell entire 10.2% stake in HDFC AMC

After the stake sale, abrdn will cease to be a co-sponsor of HDFC Mutual Fund; it had divested 5.58% in HDFC AMC for over Rs 2,300 cr in August

HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh

According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management

Listed asset management companies see subdued profit growth in Q2

The brokerage has set a March 2024 target of Rs 2,470 for HDFC AMC and Rs 400 for Nippon India AMC

Major asset management companies report muted results in second quarter

Revenue from operations remains flat for HDFC AMC and Nippon Life AMC in the previous quarter

HDFC AMC second quarter PAT rises 6% to Rs 364 cr; total income up 7%

HDFC Asset Management Company (AMC) on Wednesday reported a 6 per cent growth in profit after tax (PAT) at Rs 364.1 crore for the July-September quarter of the current financial year. In comparison, the asset management firm had a PAT of Rs 344.5 crore in the same quarter of preceding fiscal, HDFC AMC said in a filing to stock exchanges. Total income rose 7 per cent to Rs 648.9 crore for the quarter ended on September 30, 2022 from Rs 608.4 crore in the year-ago period. HDFC AMC, an investment manager to HDFC Mutual Fund, has a diversified asset class mix across equity and fixed income. The fund house managed an average assets under management (AAUM) of Rs 4.29 lakh crore for the quarter ended September 30, 2022 compared to Rs 4.38 lakh crore in the same quarter of preceding fiscal, registering a drop of 2.2 per cent. Its market share was 11 per cent in quarterly AAUM of the mutual fund industry. HDFC AMC stock rose 1.34 per cent to settle at Rs 1,960.20 on the BSE.

UTI AMC's shares soar 15% on reports of Tata AMC eyeing 45% stake

According to reports, Tata AMC plans to acquire the shares held by four public sector undertakings (PSUs) in the fund house that manages assets worth Rs 2.24 trillion

Promoter Abrdn Investment Mgmt sells 5.6% stake in HDFC AMC for Rs 2,300 cr

Promoter BRDN Investment Management, formerly Standard Life Investments, on Tuesday divested its 5.58 per cent stake in HDFC Asset Management Company (AMC) for a little over Rs 2,300 crore through an open market transaction. According to bulk deal data available with the BSE, the promoter sold a total of 1.19 crore shares, representing a 5.58 per cent stake, of the asset management company. The shares were divested at Rs 1,935.63 apiece, a discount from Friday's closing price of Rs 1,956.15. The transaction size aggregated to Rs 2,303.4 crore. However, the buyer of the share (s) could not be ascertained immediately. Despite the transaction, shares of the asset management firm rose 11.5 per cent to settle at Rs 2,180.75 on the BSE. HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and BRDN Investment Management. BRDN Investment Management, one of the promoters of HDFC AMC, held 16.21 per cent stake in the company while another promoter HD

HDFC AMC surges 12% after nearly 6% equity change hands on BSE

At 09:55 am, around 11.96 million equity shares representing 5.61 per cent of total equity of HDFC AMC changed hands on the BSE, the exchange data shows.

HDFC-HDFC Bank merger could set off Rs 48k-cr Nifty50 churn: Brokerage

Market players seek clarity from exchanges on the exclusion rule

HDFC AMC assigns Prashant Jain's schemes to new fund managers

HDFC Top 100 will be handled by Rahul Baijal, who joined the fund house recently from Sundaram Mutual Fund, where he served for over six years

Prashant Jain quits HDFC AMC: Here's how the stock looks on the charts

Shares of HDFC AMC had rallied significantly post its debut in July 2018. However, after hitting a peak at Rs 3,681 in November 2019, the stock has since then declined over 50 per cent.

I didn't want to quit when the scorecard was weak: HDFC AMC's Prashant Jain

In an interview with Samie Modak, the storied CIO of HDFC Asset Management Company, Prashant Jain, explains the rationale behind quitting now and his future plans

Prashant Jain, MF industry's poster boy, quits HDFC AMC after 19-year stint

Jain, an alumnus of IIT Kanpur and IIM Bangalore, has been replaced by Chirag Setalvad