In this edition of Ideas for Profit, Moneycontrol's Sakshi Batra discusses two AMC stocks HDFC AMC and Nippon life to see if these warrant investors' attention?
ICICI Direct is bullish on HDFC AMC has recommended buy rating on the stock with a target price of Rs 3000 in its research report dated May 11, 2020.
The engineering to software conglomerate, which houses L&T Mutual Fund under listed arm L&T Finance, had put the mutual fund business on the block earlier in a renewed attempt to find a suitable buyer
HDFC Asset Management Company, HDFC Trustee Company and seven individuals have settled with Sebi a case of certain alleged regulatory non-compliances with respect to investments in Essel Group companies.
HDFC AMC reported its results on Jan 21, while Nippon India AMC reported the quarterly numbers on Jan 23.
ICICI Direct recommended hold rating on HDFC AMC with a target price of Rs 3040 in its research report dated January 22, 2020.
Modi government’s biggest announcement of the corporate tax cut in September 2019 has hinted towards their intention of aggressively attracting new investments and job creation.
The transaction will take place on NSE and BSE and 10 percent of the sale shares shall be reserved for retail investors subject to the receipt of valid bids.
HDFC Mutual Fund received a total of Rs 167 crore while ICICI Prudential AMC received Rs 270 crore from Essel Group.
A meeting with lenders is underway and the company has assured them that it has a ready buyer.
Net Interest Income (NII) is expected to increase by 10.4 percent Y-o-Y (up 5.2 percent Q-o-Q) to Rs. 531 crore, according to KR Choksey.
SEBI had issued show cause notices in March 2014 to the two entities for alleged violations of regulatory norms in the front-running of HDFC AMC.
We have a list of stocks which remained in focus on September 3 because of their price action. The technical outlook is limited to near and medium-term.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a with 0.37 percent gain or 40 points. Nifty futures were trading around 10,937-level on the Singaporean Exchange.
The promoter stake will go below 25 percent post this deal from the current level of 35 percent
Asset management companies are a good space to sell.
Global brokerage house Bank of America Securities has maintained its buy call on the stock and hiked price target to Rs 2,200 from Rs 1,850 earlier
HDFC AMC has additionally purchased NCDs amounting to Rs 33.26 crore on July 1, 2019
Minority shareholders earn dividends and capital gains but in return bear the risk of a capital loss and being an owner, however small their stake may be
HDFC AMC is making a provision of up to 500 crore to provide liquidity to the unit holders of FMP of HDFC MF that were affected by exposure to the NCDs of Essel group companies
While having an overweight call with a price target at Rs 2,000, global brokerage Morgan Stanley said liquidity arrangement for Essel should benefit investors & improve sentiment.