HDFC AMC shares hit record high post Q1 earnings, check details
HDFC AMC stock climbed 3.05% intraday to a high of Rs 4295.20 against the previous close of Rs 4168.05 on BSE. Market cap of the firm rose to Rs 89,532.19 crore.
- Jul 15, 2024,
- Updated Jul 15, 2024 4:30 PM IST
Shares of HDFC Asset Management Company (AMC) rose to their record high on Monday after the private sector firm reported a 26% rise in Q1 net profit. Profit climbed to Rs 604 crore in the first quarter of the current fiscal against Rs 478 crore in the corresponding quarter of last year.
HDFC AMC stock climbed 3.05% intraday to a high of Rs 4295.20 against the previous close of Rs 4168.05 on BSE. Market cap of the firm rose to Rs 89,532.19 crore. Later, the stock ended 0.57% higher at Rs 4192 on BSE.
A total of 0.17 lakh shares of the firm changed hands, amounting to a turnover of Rs 7.23 crore on BSE. The stock zoomed 121% in two years and rose 36% in three years.
The stock fell to its 52 week low of Rs 2320.20 on July 14, 2023.
The relative strength index (RSI) of HDFC AMC stands at 58.5, signaling the stock is trading neither in the overbought and nor in the oversold zone. HDFC AMC shares are trading higher than the 5 day, 10 day, 20 day 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Revenue from operations of the AMC climbed 35% to Rs 775 crore in Q1 from Rs 575 crore a year ago.
Total income rose 29% to Rs 948 crore in Q1 from Rs 732 crore in the corresponding quarter of the last fiscal.
Consolidated revenue from operations rose 35% to Rs 775.24 crore in the June 2024 quarter from Rs 574.54 crore in Q1FY24.
The stock has gained 76.41% in a year and risen 121% in the last two years.
Return on equity climbed to 29.5% in FY 24, the firm said in its investor presentation. Operating profit from core asset management business climbed 40% to Rs 579.3 crore in Q1 against Rs 413.3 crore in the June quarter of the previous fiscal.
Shares of HDFC Asset Management Company (AMC) rose to their record high on Monday after the private sector firm reported a 26% rise in Q1 net profit. Profit climbed to Rs 604 crore in the first quarter of the current fiscal against Rs 478 crore in the corresponding quarter of last year.
HDFC AMC stock climbed 3.05% intraday to a high of Rs 4295.20 against the previous close of Rs 4168.05 on BSE. Market cap of the firm rose to Rs 89,532.19 crore. Later, the stock ended 0.57% higher at Rs 4192 on BSE.
A total of 0.17 lakh shares of the firm changed hands, amounting to a turnover of Rs 7.23 crore on BSE. The stock zoomed 121% in two years and rose 36% in three years.
The stock fell to its 52 week low of Rs 2320.20 on July 14, 2023.
The relative strength index (RSI) of HDFC AMC stands at 58.5, signaling the stock is trading neither in the overbought and nor in the oversold zone. HDFC AMC shares are trading higher than the 5 day, 10 day, 20 day 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Revenue from operations of the AMC climbed 35% to Rs 775 crore in Q1 from Rs 575 crore a year ago.
Total income rose 29% to Rs 948 crore in Q1 from Rs 732 crore in the corresponding quarter of the last fiscal.
Consolidated revenue from operations rose 35% to Rs 775.24 crore in the June 2024 quarter from Rs 574.54 crore in Q1FY24.
The stock has gained 76.41% in a year and risen 121% in the last two years.
Return on equity climbed to 29.5% in FY 24, the firm said in its investor presentation. Operating profit from core asset management business climbed 40% to Rs 579.3 crore in Q1 against Rs 413.3 crore in the June quarter of the previous fiscal.