HDFC AMC

Selective AMC stocks like Nippon Life India Asset Management and Aditya Birla Sun Life Amc could slip up to 15 per cent, show technical charts

GQG Partners Emerging Markets Equity Fund sold 2.48 million shares in HDFC AMC worth Rs 396.83 crore.

Stocks to Watch: RIL/ONGC/Oil India may be in focus as the windfall tax on crude petroleum has been reduced to Rs 3,500/tonne from Rs 4,400/tonne

SBI Mutual Fund on Monday bought 47.33 lakh shares of HDFC AMC for Rs 757 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), SBI Mutual Fund purchased 47,33,788 shares of the company. The shares were acquired at an average price of Rs 1,600 apiece, taking the aggregate value at Rs 757.40 crore. On Monday, shares of HDFC AMC closed 0.17 per cent higher at Rs 1,681 per scrip on the NSE. In a separate bulk deal, Shrem Infra Structure Pvt Ltd offloaded shares in Shrem InvIT for Rs 178 crore through an open market transaction. Shrem Infra Structure Pvt Ltd is the sponsor of Shrem InvIT (Shrem Infrastructure Investment Trust). Shrem Infra Structure sold 1.56 crore shares at an average price of Rs 114 per piece, taking the transaction value at Rs 177.84 crore, as per the data available with the NSE. Rohit Kapadia and Kairus Shavak Dadachanji A/C Non-Discretionary were the buyers of the shares. Shares of Shrem Inv

US-based investment firm GQG Partners offloads 1.16% holding; shares exchanged at average price of Rs 1,600 each

Shares of HDFC AMC last closed at Rs 1,677. The stock is down 13 per cent in the past six months. GQG was recently in news for its $1.9 billion share purchase of four Adani group stocks

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

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

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

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

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

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 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.

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

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

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

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

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.

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 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