Trending stocks: HDFC AMC shares fall over 2%

NEW DELHI: Shares of HDFC Asset Management Company Ltd. traded 2.55 per cent down in Wednesday's trade at 11:05AM (IST). Around 29,683 shares changed hands on the counter.

The scrip opened at Rs 2459.0 and touched an intraday high and low of Rs 2489.8 and Rs 2450.0, respectively, in the session so far. Shares of the company of HDFC Asset Management Company Ltd. quoted a 52-week high of Rs 3844.0 and a 52-week low of Rs 1784.15.

Total market cap of the HDFC Asset Management Company Ltd. stood at Rs 52539.01 crore at the time of writing this report.


Standard Life Investments, one of the promoters of HDFC Asset Management Company is looking to sell up to 60 lakhs shares of the mutual fund constituting 2.82 per cent total equity through offer for sale on June 17 and June 18.

Key Financials
The company reported consolidated sales of Rs 476.13 crore for the quarter ended 31-Mar-2020, down 9.26 per cent from previous quarter's Rs 524.73 crore and down 2.13 per cent from the year-ago quarter's Rs 486.5 crore.

The net profit for latest quarter stood at Rs 249.83 crore, down 9.54 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2020, DIIs held 0.79 per cent stake in the company, while foreign institutional investors held 8.0 per cent and the promoters 52.72 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 41.62 and a price-to-book ratio of 13.04. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

HDFC Asset Management Company Ltd. belongs to the AMC industry.