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HDFC AMC jumps over 19% in four days
HDFC Asset Management Company advanced 6.29% to Rs 2306.75 at 11:43 IST on the BSE, extending recent gains triggered by the company's robust Q1 outcome.
On the BSE, 1.57 lakh shares were traded in the counter so far compared with average daily volumes of 34000 shares in the past two weeks. The stock has hit a 52-week high and intraday high of Rs 2369.5 and an intraday low of Rs 2184. The stock hit a 52-week low of Rs 1248.3 on 21 September 2018.
HDFC Asset Management Company (HDFC AMC) announced during market hours on Tuesday, 16 July 2019, that its net profit rose 42.16% to Rs 291.79 crore on 10.29% increase in total income to Rs 552.75 crore in Q1 June 2019 over Q1 June 2018.
Following the strong results, the stock HDFC AMC stock jumped 3.08% to end at Rs 1994.30 on Tuesday, 16 July 2019.
Shares of HDFC AMC advanced 19.23% in four trading sessions to its current market price of Rs 2306.75, from close of Rs 1934.65 on 15 July 2019.
The company's operating profit from core asset management business for the quarter ended 30 June 2019 jumped 44% to Rs 381.50 crore compared with Rs 264.70 crore in the quarter ended 30 June 2018.
The company reported total AUM of Rs 3,56,700 crore as of 30 June 2019 compared to Rs 3,01,100 crore as on 30 June 2018, a growth of 18%. The ratio of equity oriented assets and non-equity oriented assets is 48:52, compared with the industry ratio of 43:57.
HDFC Asset Management Company (HDFC AMC) is India's largest mutual fund manager with total asset under management (AUM) market share of 14.7% as on 30 June 2019. It has India's largest actively managed equity mutual fund AUM, with market share at 16.2% as on 30 June 2019.The company reported increase of 10% in individual customer accounts and increase of 11% in unique customer accounts year on year as on June 2019.
HDFC AMC is an investment manager to HDFC Mutual Fund, the largest mutual fund in the country.
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