Buy HDFC Asset Management Company, target price Rs 2550: JM Financial

JM Financial has buy call on HDFC Asset Management Company with a target price of Rs 2550. The current market price of HDFC Asset Management Company is Rs 1719.5.

HDFC Asset Management Company, incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 36702.30 Crore) operating in Financial Services sector.

HDFC Asset Management Company key Products/Revenue Segments include Income From Portfolio Management Services and Investment Management & Advisory Fees for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 662.96 Crore, up 2.16 % from last quarter Total Income of Rs 648.93 Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company has reported net profit after tax of Rs 369.16 Crore in latest quarter.

The company’s top management includes Mr.Deepak S Parekh, Mr.Sanjay Bhandarkar, Mr.Parag Shah, Mr.Jairaj Purandare, Mr.Dhruv Kaji, Mr.Rushad Abadan, Ms.Renu S Karnad, Mr.Keki Mistry, Mr.Navneet Munot, Ms.Roshni Nadar Malhotra. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 21 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 62.78 per cent stake in the company as of 31-Dec-2022, while FIIs owned 12.09 per cent, DIIs 13.4 per cent.