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The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/lifehealth-insurance/hdfclifeinsurancecompany/HSL01">HDFC Life Insurance Company</a> dropped around 5 percent to hit an intraday low of Rs 726 apiece on October 16 after the company released its results for the July-September quarter of the financial year 2026.

The company released its results for Q2 FY26 in the post market hours of October 15. The stock later recovered some losses and was trading over 2 percent lower at Rs 743.40, as seen at 1.50 pm on Thursday.

HDFC Life Q2 results:

HDFC Life Insurance Company reported a <a href="https://www.moneycontrol.com/news/business/earnings/hdfc-life-s-q2-fy26-profit-rises-3-to-rs-448-crore-total-premium-up-15-yoy-13618091.html">3 percent year-on-year increase in consolidated net profit</a> to Rs 448 crore for the quarter ended September 2025, as against the Rs 435 crore net profit reported in the same period last year.

The insurer's total premium income rose 15 percent year-on-year to Rs 34,162 crore, driven by growth across both new business and renewal segments. New business premium grew 12 percent to Rs 16,222 crore, while renewal premium surged 18 percent to Rs 17,940 crore. HDFC Life's Assets Under Management (AUM) stood at Rs 5 lakh crore during the quarter under review, rising 11 percent year-on-year to Rs 3,59,999 crore.

Should you buy, sell or hold?

Jefferies kept a 'Buy' call on the stock, with a target price of Rs 930 per share. This implies an upside potential of more than 22 percent over the stock's previous closing price. The brokerage said that Q2 VNB rose 8 percent YoY, slightly ahead of estimates with better margin.

Growth expected to improve from December quarter as base normalizes, buy margins will likely dip slightly in H2FY26 due to GST impact before normalising from FY27.

CLSA kept an 'Outperform' call on the stock, with a target price of Rs 910 per share. This implies an upside potential of nearly 20 percent from the stock’s previous closing price.

PL Capital also held a 'Buy' call on the stock, with a target price of Rs 900 per share. This implies an upside potential of more than 18 percent from the stock's previous closing price. The domestic brokerage expects FY26E margin to trend lower at 24 percent. However strong growth in retail protection volume and improved margin profile in ULIP is likely to offset some of the drag. "While we have trimmed our VNB margin estimates for FY26/FY27E, we remain confident of delivery on growth," it added.

Also read: <a href="https://www.moneycontrol.com/news/business/earnings/q2-results-2025-live-updates-infosys-eternal-wipro-jio-financial-ltimindtree-nestle-indian-bank-waaree-energies-q2-earnings-dividend-share-price-oct-16-liveblog-13619290.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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HDFC Life shares drop 5% after Q2 results: Should you buy, sell or hold?

The shares of HDFC Life Insurance Company dropped around 5 percent to hit an intraday low of Rs 726 apiece on October 16 after the company released its results for the July-September quarter of the financial year 2026.

The company released its results for Q2 FY26 in the post market hours of October 15. The stock later recovered some losses and was trading over 2 percent lower at Rs 743.40, as seen at 1.50 pm on Thursday.

HDFC Life Q2 results:

HDFC Life Insurance Company reported a 3 percent year-on-year increase in consolidated net profit to Rs 448 crore for the quarter ended September 2025, as against the Rs 435 crore net profit reported in the same period last year.

The insurer's total premium income rose 15 percent year-on-year to Rs 34,162 crore, driven by growth across both new business and renewal segments. New business premium grew 12 percent to Rs 16,222 crore, while renewal premium surged 18 percent to Rs 17,940 crore. HDFC Life's Assets Under Management (AUM) stood at Rs 5 lakh crore during the quarter under review, rising 11 percent year-on-year to Rs 3,59,999 crore.

Should you buy, sell or hold?

Jefferies kept a 'Buy' call on the stock, with a target price of Rs 930 per share. This implies an upside potential of more than 22 percent over the stock's previous closing price. The brokerage said that Q2 VNB rose 8 percent YoY, slightly ahead of estimates with better margin.

Growth expected to improve from December quarter as base normalizes, buy margins will likely dip slightly in H2FY26 due to GST impact before normalising from FY27.

CLSA kept an 'Outperform' call on the stock, with a target price of Rs 910 per share. This implies an upside potential of nearly 20 percent from the stock’s previous closing price.

PL Capital also held a 'Buy' call on the stock, with a target price of Rs 900 per share. This implies an upside potential of more than 18 percent from the stock's previous closing price. The domestic brokerage expects FY26E margin to trend lower at 24 percent. However strong growth in retail protection volume and improved margin profile in ULIP is likely to offset some of the drag. &quot;While we have trimmed our VNB margin estimates for FY26/FY27E, we remain confident of delivery on growth,&quot; it added.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The newly-listed shares of <a href="https://www.moneycontrol.com/india/stockpricequote/finance-nbfc/hdbfinancialservices/HFSL">HDB Financial</a> fell more than 1 percent on October 16 after the company released its results for the July-September quarter of the financial year 2026.

The shares of the subsidiary of private lender HDFC Bank, hit a day's low at Rs 733.25 apiece on Thursday. The stock, which debuted on stock markets in July, has now fallen more than 12 percent since listing.

HDB Financial Q2 results:

HDB Financial Services reported a <a href="https://www.moneycontrol.com/news/business/earnings/hdb-financial-services-q2-results-net-profit-falls-1-5-to-rs-581-crore-nbfc-declares-rs-2-interim-dividend-13618243.html">1.5 percent decline in net profit</a> at Rs 581 crore for the quarter under review, hurt by higher loan losses and provisions. The NBFC had reported net profit of Rs 591 crore in the year-ago period.

The firm's revenue rose 13 percent YoY to Rs 4,545 crore in Q2 FY26, as against Rs 4,007 crore in the year-ago period. The newly-listed company also announced an interim dividend of Rs 2 per share for FY26. It has set October 24 as the record date to determine the eligibility of the shareholders set to receive the payment.

Should you buy, sell or hold?

Morgan Stanley kept an equal-weight call on the stock, with a target price of Rs 805 per share. This implies an upside potential of more than 8 percent from the stock’s previous closing price. The brokerage raised FY26 EPS estimate by 4 percent, but cut FY27 and FY28 EPS estimates by 0.4 percent and 3 percent, respectively.

Jefferies kept a ‘Buy’ call on the stock, with a target price of Rs 900 per share. This implies an upside potential of more than 21 percent from the stock’s previous closing price.

The international brokerage said that the firm's Q2 profit after tax missed estimates. AUM growth moderated to 13 percent YoY, while net interest margin (NIM) rose 20 bps QoQ. Asset quality slipped QoQ due to higher CV portfolio stress, it added.

Growth and asset quality are expected to improve in the second half of FY26 due to GST cuts and activity normalization, Jefferies said.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-16-10-2025-liveblog-13618831.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

HDB Financial shares fall 1% after Q2 results: Should you buy, sell or hold?

The newly-listed shares of HDB Financial fell more than 1 percent on October 16 after the company released its results for the July-September quarter of the financial year 2026.

The shares of the subsidiary of private lender HDFC Bank, hit a day's low at Rs 733.25 apiece on Thursday. The stock, which debuted on stock markets in July, has now fallen more than 12 percent since listing.

HDB Financial Q2 results:

HDB Financial Services reported a 1.5 percent decline in net profit at Rs 581 crore for the quarter under review, hurt by higher loan losses and provisions. The NBFC had reported net profit of Rs 591 crore in the year-ago period.

The firm's revenue rose 13 percent YoY to Rs 4,545 crore in Q2 FY26, as against Rs 4,007 crore in the year-ago period. The newly-listed company also announced an interim dividend of Rs 2 per share for FY26. It has set October 24 as the record date to determine the eligibility of the shareholders set to receive the payment.

Should you buy, sell or hold?

Morgan Stanley kept an equal-weight call on the stock, with a target price of Rs 805 per share. This implies an upside potential of more than 8 percent from the stock’s previous closing price. The brokerage raised FY26 EPS estimate by 4 percent, but cut FY27 and FY28 EPS estimates by 0.4 percent and 3 percent, respectively.

Jefferies kept a ‘Buy’ call on the stock, with a target price of Rs 900 per share. This implies an upside potential of more than 21 percent from the stock’s previous closing price.

The international brokerage said that the firm's Q2 profit after tax missed estimates. AUM growth moderated to 13 percent YoY, while net interest margin (NIM) rose 20 bps QoQ. Asset quality slipped QoQ due to higher CV portfolio stress, it added.

Growth and asset quality are expected to improve in the second half of FY26 due to GST cuts and activity normalization, Jefferies said.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/finance-investments/hdfcassetmanagementcompany/HAM02">HDFC Asset Management Company</a> jumped nearly 3 percent to hit a record high on October 16 after brokerages issued positive notes following its Q2 earnings and bonus issue announcement.

The shares hit a fresh 52-week high of Rs 5,934.5 apiece on Thursday. The stock then erased gains to trade in the red with marginal losses.

HDFC AMC Q2 results:

HDFC Asset Management Company reported a net profit of Rs 718.43 crore for the second quarter of the financial year 2026. This marks a rise of nearly 25 percent year-on-year (YoY) from the Rs 576.61 crore net profit reported in the same period last year.

The firm’s revenue from operations meanwhile rose around 16 percent YoY to Rs 1,027.40 crore during the quarter under review. It had earlier reported revenue from operations at Rs 887.21 crore in the corresponding quarter of the previous financial year.

The firm's assets under management (AUM) rose 14 percent on-year to Rs 8.73 lakh crore by the end of Q2 FY26. Its number of live individual accounts meanwhile rose 26 percent YoY to 25.94 million.

HDFC AMC Bonus issue:

Along with the Q2 FY26 results, HDFC AMC announced a <a href="https://www.moneycontrol.com/news/business/markets/hdfc-amc-announces-its-first-ever-bonus-issue-what-it-means-for-shareholders-13618061.html">bonus issue in the ratio of 1:1</a>. Notably, this is the first-ever bonus issue announced by the company. The record date to determine the eligibility of the shareholders set to receive the payment has been set at November 26.

This means that shareholders owning shares of the company as on the record date, will get one bonus share for every share they hold.

Should you buy, sell or hold?

HSBC has a 'Hold' call on the stock, with a target price of Rs 4,920 per share. This implies a downside potential of nearly 15 percent from the stock's previous closing price of Rs 5,764 apiece.

The brokerage noted that the <a href="https://www.moneycontrol.com/news/business/earnings/hdfc-amc-q2-results-net-profit-rises-25-to-rs-718-crore-firm-announces-1-1-bonus-issue-13617990.html">Q2 FY26 operating performance</a> was largely in line with estimates. Higher treasury gains and tax write-back led to profit after tax beating estimates. Buoyant markets and AUM market share gains are key catalysts, it added.

Motilal Oswal raised the target price on the stock to Rs 6,800 per share from Rs 5,764 per share, while maintaining its 'Buy' call on the stock. The latest target price implies an upside potential of nearly 18 percent from the stock's previous closing price.

Motilal said that with improved market position, diversified product portfolio and digital expansion efforts, the company is well positioned to sustain growth and deliver value to stakeholders.

Nuvama also maintained its 'Buy' call on the stock, while raising its target price to Rs 7,200 per share from Rs 6,530 per share. The latest target price implies an upside potential of nearly 25 percent from the stock’s previous closing price.

CLSA meanwhile said that flows and profitability remain intact. It raised PAT estimates by 2 percent-5 percent, driven by higher AUM growth. The international brokerage increased its target price for the stock to Rs 6,000 apiece, from Rs 5,670 apiece. This implies an upside potential of more than 4 percent from its previous closing price.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-16-10-2025-liveblog-13618831.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

HDFC AMC shares hit record high on positive brokerage notes post Q2 results: Should you buy, sell or hold?

The shares of HDFC Asset Management Company jumped nearly 3 percent to hit a record high on October 16 after brokerages issued positive notes following its Q2 earnings and bonus issue announcement.

The shares hit a fresh 52-week high of Rs 5,934.5 apiece on Thursday. The stock then erased gains to trade in the red with marginal losses.

HDFC AMC Q2 results:

HDFC Asset Management Company reported a net profit of Rs 718.43 crore for the second quarter of the financial year 2026. This marks a rise of nearly 25 percent year-on-year (YoY) from the Rs 576.61 crore net profit reported in the same period last year.

The firm’s revenue from operations meanwhile rose around 16 percent YoY to Rs 1,027.40 crore during the quarter under review. It had earlier reported revenue from operations at Rs 887.21 crore in the corresponding quarter of the previous financial year.

The firm's assets under management (AUM) rose 14 percent on-year to Rs 8.73 lakh crore by the end of Q2 FY26. Its number of live individual accounts meanwhile rose 26 percent YoY to 25.94 million.

HDFC AMC Bonus issue:

Along with the Q2 FY26 results, HDFC AMC announced a bonus issue in the ratio of 1:1. Notably, this is the first-ever bonus issue announced by the company. The record date to determine the eligibility of the shareholders set to receive the payment has been set at November 26.

This means that shareholders owning shares of the company as on the record date, will get one bonus share for every share they hold.

Should you buy, sell or hold?

HSBC has a 'Hold' call on the stock, with a target price of Rs 4,920 per share. This implies a downside potential of nearly 15 percent from the stock's previous closing price of Rs 5,764 apiece.

The brokerage noted that the Q2 FY26 operating performance was largely in line with estimates. Higher treasury gains and tax write-back led to profit after tax beating estimates. Buoyant markets and AUM market share gains are key catalysts, it added.

Motilal Oswal raised the target price on the stock to Rs 6,800 per share from Rs 5,764 per share, while maintaining its 'Buy' call on the stock. The latest target price implies an upside potential of nearly 18 percent from the stock's previous closing price.

Motilal said that with improved market position, diversified product portfolio and digital expansion efforts, the company is well positioned to sustain growth and deliver value to stakeholders.

Nuvama also maintained its 'Buy' call on the stock, while raising its target price to Rs 7,200 per share from Rs 6,530 per share. The latest target price implies an upside potential of nearly 25 percent from the stock’s previous closing price.

CLSA meanwhile said that flows and profitability remain intact. It raised PAT estimates by 2 percent-5 percent, driven by higher AUM growth. The international brokerage increased its target price for the stock to Rs 6,000 apiece, from Rs 5,670 apiece. This implies an upside potential of more than 4 percent from its previous closing price.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Axis Bank shares rose over 4 percent on Thursday after the lender reported improved asset quality in its September quarter results, helping the Bank Nifty index climb past the 57,200 mark.

The stock rose 4.04 percent to an intraday high of Rs 1,216.90 on the NSE, after opening with a 4 percent gain. The rise came after two consecutive sessions of decline.

According to data compiled by LSEG, at least eight of the 40 brokerages tracking <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/axisbank/AB16">Axis Bank</a> raised their price targets following the results.

"Improvements have been substantial, including credit cost decline and better-than-estimated net interest margin resilience," analysts at HSBC said in a note.

HSBC raised its target price on the stock to Rs 1,460 from Rs 1,340. Jefferies also increased its price target to Rs 1,430 from Rs 1,370 and retained its “buy” rating.

Axis Bank on Wednesday reported a sharper-than-expected drop in quarterly profit, but total deposits grew 11 percent year-on-year and credit costs declined.

Its net interest margin fell to 3.73 percent from 3.8 percent in the previous quarter and 3.99 percent in the year-ago period. Jefferies had expected a 20-basis-point sequential decline in margins, while the bank reported a 7-basis-point fall, which analysts viewed as a positive sign.

The Bank Nifty index recovered from previous day losses to trade above 57,000, with analysts at Choice Broking identifying resistance at 57,100–57,200. Analysts have given a target of 57,500 for the bank Nifty index.

Axis Bank was the top gainer on the index, followed by <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/kotakmahindrabank/KMB">Kotak Mahindra Bank</a>, which rose up to 2 percent intraday. Punjab National Bank, HDFC Bank, ICICI Bank and IndusInd Bank were also among the gainers.

Investor sentiment in the banking space was further supported by <a href="https://www.moneycontrol.com/news/business/economy/govt-draws-up-mega-bank-merger-plan-smaller-lenders-to-be-clubbed-with-big-banks-by-fy27-13617103.html" target="_blank">reports of a potential public sector bank consolidation</a>, with government sources indicating that the Centre is working on a merger plan to combine smaller lenders with larger state-run banks.

(Inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Axis Bank Q2 results propel Bank Nifty past 57,200; analysts say 57,500 is next resistance

Axis Bank shares rose over 4 percent on Thursday after the lender reported improved asset quality in its September quarter results, helping the Bank Nifty index climb past the 57,200 mark.

The stock rose 4.04 percent to an intraday high of Rs 1,216.90 on the NSE, after opening with a 4 percent gain. The rise came after two consecutive sessions of decline.

According to data compiled by LSEG, at least eight of the 40 brokerages tracking Axis Bank raised their price targets following the results.

&quot;Improvements have been substantial, including credit cost decline and better-than-estimated net interest margin resilience,&quot; analysts at HSBC said in a note.

HSBC raised its target price on the stock to Rs 1,460 from Rs 1,340. Jefferies also increased its price target to Rs 1,430 from Rs 1,370 and retained its “buy” rating.

Axis Bank on Wednesday reported a sharper-than-expected drop in quarterly profit, but total deposits grew 11 percent year-on-year and credit costs declined.

Its net interest margin fell to 3.73 percent from 3.8 percent in the previous quarter and 3.99 percent in the year-ago period. Jefferies had expected a 20-basis-point sequential decline in margins, while the bank reported a 7-basis-point fall, which analysts viewed as a positive sign.

The Bank Nifty index recovered from previous day losses to trade above 57,000, with analysts at Choice Broking identifying resistance at 57,100–57,200. Analysts have given a target of 57,500 for the bank Nifty index.

Axis Bank was the top gainer on the index, followed by Kotak Mahindra Bank, which rose up to 2 percent intraday. Punjab National Bank, HDFC Bank, ICICI Bank and IndusInd Bank were also among the gainers.

Investor sentiment in the banking space was further supported by reports of a potential public sector bank consolidation, with government sources indicating that the Centre is working on a merger plan to combine smaller lenders with larger state-run banks.

(Inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/ipo/canara-robeco-asset-management-company-ltd-cramcl-ipodetail">Canara Robeco Asset Management Company</a> debuted at Rs 280.25 apiece on NSE on October 16. This marks a premium of 5.36 percent over the IPO price of Rs 266 apiece. The stock's market capitalization at debut stood at Rs 5,589 crore.

The stock then jumped nearly 13 percent to close at Rs 300.10 on NSE. This marks a jump of more than 18 percent from the IPO price. The mcap at the end of the debut day stands at Rs 5,984.52 crore.

Canara Robeco AMC IPO GMP:

The listing premium is slightly lower than the grey market estimates. Ahead of listing, the unlisted shares of the company were trading with more than 8 percent grey market premium (GMP) over the IPO price, according to data on Investorgain.

According to IPO Watch, the unlisted shares of the company were trading with more than 7.5 percent GMP over the IPO price, ahead of listing.

About Canara Robeco AMC IPO:

The initial public offering of Canara Robeco saw strong investor interest during its three days of public bidding, being subscribed nearly 10 times (974 percent) between October 9 and October 13 at a price band of Rs 253-266 apiece.

The Rs 1,326-crore IPO entirely comprised an offer for sale (OFS) of nearly 5 crore shares, with no fresh issue component. This means that none of the IPO proceeds will go to the company as they will be received by the selling promoters. Currently, Canara Bank owns 51 percent stake in Canara Robeco while Orix Corporation holding has the remaining stake in the AMC.

PL Capital initiates coverage with 'Buy' rating:

PL Capital initiated coverage on the shares of Canara Robeco Asset Management Company with a 'Buy' rating. This came a day before the shares made their debut on stock markets on October 16.

The domestic brokerage kept a target price of Rs 320 per share for the stock, implying an upside potential of more than 20 percent from the IPO price of Rs 266 apiece.

What PL Capital said:

PL Capital said that it is initiating coverage on the stock with a <a href="https://www.moneycontrol.com/news/business/markets/canara-robeco-amc-gets-buy-call-from-brokerage-ahead-of-market-debut-up-to-20-upside-seen-13618176.html">'Buy' rating</a> as it is optimistic about its business prospects, given its better equity performance, higher equity share of 90 percent which could lead to higher core earnings, and telescopic pricing which would have a limited impact on equity yields.

"We see healthy core earnings CAGR of 17% over FY25-28E, better than listed peers. Upper band of Rs 266 suggests a value of 19.6x on Sep'27 core EPS (UTIAM: 16.7x, ABSLAMC: 22.7x), indicating 42.5% discount to NAM. We assign 24x multiple to arrive at TP of Rs 320; CRAMC is attractive in the small-cap space. Initiate with 'BUY'," it said.

The domestic brokerage also noted that being a subsidiary of Canara Bank, the about-to-be-listed AMC firm benefits from the bank’s widespread branch network and retail customer base, facilitating distribution of MF products across the country

Follow all IPO news <a href="https://www.moneycontrol.com/ipo/">here</a>.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Canara Robeco AMC shares settle 13% higher than IPO price after market debut

The shares of Canara Robeco Asset Management Company debuted at Rs 280.25 apiece on NSE on October 16. This marks a premium of 5.36 percent over the IPO price of Rs 266 apiece. The stock's market capitalization at debut stood at Rs 5,589 crore.

The stock then jumped nearly 13 percent to close at Rs 300.10 on NSE. This marks a jump of more than 18 percent from the IPO price. The mcap at the end of the debut day stands at Rs 5,984.52 crore.

Canara Robeco AMC IPO GMP:

The listing premium is slightly lower than the grey market estimates. Ahead of listing, the unlisted shares of the company were trading with more than 8 percent grey market premium (GMP) over the IPO price, according to data on Investorgain.

According to IPO Watch, the unlisted shares of the company were trading with more than 7.5 percent GMP over the IPO price, ahead of listing.

About Canara Robeco AMC IPO:

The initial public offering of Canara Robeco saw strong investor interest during its three days of public bidding, being subscribed nearly 10 times (974 percent) between October 9 and October 13 at a price band of Rs 253-266 apiece.

The Rs 1,326-crore IPO entirely comprised an offer for sale (OFS) of nearly 5 crore shares, with no fresh issue component. This means that none of the IPO proceeds will go to the company as they will be received by the selling promoters. Currently, Canara Bank owns 51 percent stake in Canara Robeco while Orix Corporation holding has the remaining stake in the AMC.

PL Capital initiates coverage with 'Buy' rating:

PL Capital initiated coverage on the shares of Canara Robeco Asset Management Company with a 'Buy' rating. This came a day before the shares made their debut on stock markets on October 16.

The domestic brokerage kept a target price of Rs 320 per share for the stock, implying an upside potential of more than 20 percent from the IPO price of Rs 266 apiece.

What PL Capital said:

PL Capital said that it is initiating coverage on the stock with a 'Buy' rating as it is optimistic about its business prospects, given its better equity performance, higher equity share of 90 percent which could lead to higher core earnings, and telescopic pricing which would have a limited impact on equity yields.

&quot;We see healthy core earnings CAGR of 17% over FY25-28E, better than listed peers. Upper band of Rs 266 suggests a value of 19.6x on Sep'27 core EPS (UTIAM: 16.7x, ABSLAMC: 22.7x), indicating 42.5% discount to NAM. We assign 24x multiple to arrive at TP of Rs 320; CRAMC is attractive in the small-cap space. Initiate with 'BUY',&quot; it said.

The domestic brokerage also noted that being a subsidiary of Canara Bank, the about-to-be-listed AMC firm benefits from the bank’s widespread branch network and retail customer base, facilitating distribution of MF products across the country

Follow all IPO news here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Defence Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Defence industry stocks.

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HDFC Life shares drop 5% after Q2 results: Should you buy, sell or hold?

HDB Financial shares fall 1% after Q2 results: Should you buy, sell or hold?

HDFC AMC shares hit record high on positive brokerage notes post Q2 results: Should you buy, sell or hold?

Axis Bank Q2 results propel Bank Nifty past 57,200; analysts say 57,500 is next resistance

Canara Robeco AMC shares settle 13% higher than IPO price after market debut

Defence Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Defence industry stocks.

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Earnings Review-Q2 FY25-26

Stock News

HDFC Life shares drop 5% after Q2 results: Should you buy, sell or hold?

HDB Financial shares fall 1% after Q2 results: Should you buy, sell or hold?

HDFC AMC shares hit record high on positive brokerage notes post Q2 results: Should you buy, sell or hold?

Axis Bank Q2 results propel Bank Nifty past 57,200; analysts say 57,500 is next resistance

Canara Robeco AMC shares settle 13% higher than IPO price after market debut

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