HDFC AMC is looking at effective diversification in investment styles in the equity segment
The stock is up 117 per cent from its listing price of Rs 1100 per share to Wednesday's closing price of Rs 2,387.4. The all-time high was Rs 3,844
Share of high-margin equity is coming down in favour of less profitable liquid funds
In the current Covid-19 scenario, investors are more conservative with a rising preference for less risky liquid funds compared to equity
The regulator levied a fine of Rs 50 lakh each on Nilesh Kapadia and Dharmesh Shah, Rs 40 lakh on Ashok Nayak and Rs 60 lakh on IKAB Securities and Investments Ltd.
Among the listed players, HDFC AMC reported a 65% y-o-y jump in other income in the June quarter, at Rs 79 crore
In the June quarter, the PBT stood at Rs 380.4 crore. Post-taxes, the profit was up 4 per cent year-on-year basis, at Rs 302 crore
Nippon Life Asset Management slipped 4 per cent to Rs 291, while HDFC AMC dropped 3 per cent to Rs 2,490 in the intra-day trade on the BSE.
Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.
All that happened in the markets today
According to an analysis by ICICI Direct, about a dozen stocks currently meet the inclusion criteria for trading in the derivatives segment
The equity schemes had combined asset base of over Rs 33,000 crore
UTI AMC will be the third offering in the Indian mutual fund industry
The stock of ABB has made a higher bottom formation pattern taking support near 776 levels and has picked up with momentum to improve the bias
The share sale however, has sailed through as institutional investor portion was oversubscribed
Retail investors bid for 987,191 shares as against 1.2 million on offer; share sale has sailed through as institutional investor portion was oversubscribed
Currently, Standard Life holds 26.89 per cent stake in HDFC AMC. After the OFS, its stake will decline to 21.25 per cent
Standard Life Investments, one of the promoters in HDFC AMC, is looking to offload up to 2.82 per cent stake in the company through OFS, which opened today and will close Thursday.
At floor price, the OFS can fetch over Rs 1,400 crore
Fund house held sizeable market share in individual investors' segment