ICICI Direct has given Hold recommendation for HDFC AMC with a target price of Rs. 2550 in its research report issued on Jan 25, 2022

ICICI Direct’s research report on HDFC AMC

HDFC AMC is among the largest and profitable mutual funds with an AUM of ~Rs 4.4 lakh crore as on December 2021. Market share as on Q3FY22 was at 11.6% • Strong distribution network with 227 branches and over 70,000 empanelled distribution partners.

Outlook

We maintain HOLD rating on the stock. Given concerns on declining market share, we value HDFC AMC at ~29x FY24E EPS and revise our target price from Rs 3000 to Rs 2550.

More Info on Trent

At 17:30 HDFC Asset Management Company was quoting at Rs 2,186.25, up Rs 45.75, or 2.14 percent.

It has touched an intraday high of Rs 2,249.90 and an intraday low of Rs 2,143.25.

It was trading with volumes of 35,902 shares, compared to its thirty day average of 19,171 shares, an increase of 87.28 percent.

In the previous trading session, the share closed down 4.06 percent or Rs 90.65 at Rs 2,140.50.

The share touched its 52-week high Rs 3,363.00 and 52-week low Rs 2,119.45 on 09 September, 2021 and 27 January, 2022, respectively.

Currently, it is trading 34.99 percent below its 52-week high and 3.15 percent above its 52-week low.

Market capitalisation stands at Rs 46,610.11 crore.

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