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HDFC AMC shares surge nearly 7% on strong Q1 earnings

HDFC AMC shares surge nearly 7% on strong Q1 earnings

HDFC AMC shares surge nearly 7% on strong Q1 earnings
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By Mousumi Paul  Jul 17, 2019 10:24:39 AM IST (Published)

The share price of HDFC Asset Management Company surged nearly 7 percent intraday after the company reported robust June quarterly earnings.

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At 09:56 am, the stock price was trading at Rs 2,104 per share, higher by 5.71 percent on the NSE. Intraday, the share price rallied about 7 percent to its 52-week high of Rs 2,127. The stock has gained 39.15 percent this year.
HDFC AMC
The AMC reported a 42 percent YoY increase in net profit to Rs 291.79 crore for Q1FY20. Its total income increased by 10.28 percent YoY to Rs 552.75 crore as compared to Rs 501.19 crore in the year-earlier quarter.
The company’s assets under management (AUM) rose 18 percent YoY to Rs 3,56,700 crore. AUM in actively managed equity-oriented funds i.e. equity-oriented total AUM excluding arbitrage funds and index funds grew to Rs 1,68,900 crore as on June 30, 2019 with a market share of 16.2 percent.
 
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