The broader structure of Nifty still looks weak though
Equity funds account for 42 per cent and 52 per cent of AUMs for HDFC AMC and Nippon AMC, respectively
Impact on FMP investors from 'standstill' pact with Essel group put fund house in scrutiny
As a result, analysts at Prabhudas Lilladher Research expect the valuation gap between the two AMCs to narrow, though HDFC AMC could retain its top position.
The capital markets regulator has said that for current investigations, "observations" on the draft offer may be kept in abeyance for 30 days from filing of the draft offer
Improving mix of equity products is positive for an AMC as equity products offer higher management fees than fixed income products.
Bank Nifty would have a range of 31,370-32,650
HDFC Credit Risk Fund had Rs 124 crore of exposure to the NCDs of the company
HDFC AMC has time until August 2021 to bring down promoter holding to 75 per cent
The floor price for the sale has been set at Rs 3,170 per equity share. The share-sale is being undertaken by the promoter for achieving the minimum public shareholding in the company
The share-sale is being undertaken by the promoter for achieving the minimum public shareholding in the company as prescribed under markets regulator Sebi's norm
So far in the fiscal year 2019-20, the stocks have outperformed the benchmark. While HDFC has surged 17 per cent, HDFC AMC has zoomed 134 per cent till Tuesday.
The stock was trading at its highest level since its listing on August 6, 2018, and has zoomed 203 per cent from its initial public offer (IPO) price of Rs 1,100 per share.
Analysts at Centrum Broking said the Indian mutual fund industry has several structural factors in place which will lead to its multi-year growth.
Hindustan Unilever (HUL), Nestle India, Bata India, Berger Paints, Info Edge (India), Manappuram Finance, Siemens, Voltas and Whirlpool of India, too, hit new highs today.
Thus far in the current financial year 2019-20, the stock has zoomed 56 per cent, as compared to 3 per cent decline in the S&P BSE Sensex.
Nifty outlook and top trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher.
A sharp rally in the stock pushed the market capitalisation of HDFC AMC above Rs 50,000 crore mark in the intra-day trade today.
Stock touched an all-time high; leadership in retail AUMs also augurs well
AUM in actively managed equity-oriented funds, i.e. equity-oriented total AUM excluding arbitrage funds and index funds, grew to Rs 1.69 trillion as of June 30, 2019, with a market share of 16.2%