ICICI Direct's research report on HDFC AMC
HDFC AMC is among the largest and profitable mutual funds with a QAAUM of ~Rs 4.2 lakh crore as on September 2022. Market share as on Q2FY23 was at ~11% • Strong distribution network with 228 branches and more than 80,000 empanelled distribution partners.
Outlook
We upgrade the stock from HOLD to BUY. Rolling our estimates, we value the business at ~32x FY25E EPS and revise our target from Rs 2200 to Rs 2600.
For all recommendations report, click here
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