Recently HDFC AMC has witnessed a breakout of the Falling channel and again reclaims the upper band of the pattern indicating immediate support & bullish set-up in the counter.
HDFC AMC surged 11.5 percent to Rs 2,181, the highest closing since April 18, and formed large bullish candlestick pattern which resembles Bullish Engulfing kind of pattern formation on the daily charts with robust volumes. The stock has strongly broken out four-month long downward sloping resistance trendline adjoining April 4 and August 3.
Following the resignation of CIO Prashant Jain, HDFC AMC has appointed Chirag Setalvad as head equities and Shobhit Mehrotra as head-fixed income
Inflation pressure may not subside soon, increasing the possibility of further hikes into FY23, he has said
The rise in passive investment is not the only reason for the underperformance of AMC stocks. It could also be breeding mistrust
The price configuration on daily chart depicts a bullish 'Cup and Handle' pattern in HDFC AMC, and since its backed by decent volumes, we recommend buying this stock for a trading target of Rs 235. The stop-loss can be placed at Rs 208.40.
Stock prices of listed AMCs fell steeply in past 3 months despite positive sectoral trends
The dip in the valuation of the AMC stocks is in contrast to the favourable industry trends and presents an investment opportunity
The deal size is expected to be at Rs 3,042.2 crore ($411 million at a USDINR rate of 74.0525), as per the reports.
With positive net flows into equity schemes for six months in a row, stocks of 3 listed AMCs and CAMS remain in focus
With the ebbing of the virus risk and equity markets scaling new highs, investors poured in Rs 20,742 crore in equity schemes in July — more than a four-fold rise over June
As India continues on its growth journey, the fund house aspires to be a wealth creator for every Indian, with an audacious vision to be the most respected asset manager in the world, Munot added.
The company's average assets under management increased 17 percent to Rs 4,16,900 crore as of June-end 2021, compared to Rs 3,56,200 crore in June 2020, giving it a market share of 12.6 percent.
These are proxies for capital market growth and have seen a stellar run from the bottom of the crash last year
Q3FY21 has turned out to be one of the best earnings seasons in last six years (since September 2014) with profit after tax (PAT) growth of nearly 32 percent, says senior fund manager at HDFC AMC.
Aarti Industries, Dr Lal Path Labs and HDFC Asset Management Company had a market capitalisation of Rs 21,253.99 crore, Rs 17,971.66 crore and Rs 60,410.85 crore respectively.
With the addition of these three stocks, 140 stocks will be available for trading in F&O segment from January series.
MC Insider had said on November 9 that Navneet Munot, who is currently the Chief Investment Officer at SBI mutual fund company where he has worked for 12 years, was likely to be appointed the MD & CEO of HDFC Asset Management Company