Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd
HDFC AMC reported numbers were on expected lines. The revenue sequentially jumped 11%, declined 8.4% & YoY, primarily owing to compression in blended yield, due to unfavorable AUM mix towards low margin non-equity business. QAAUM was flat YOY and sequentially up 5% led by 12 % growth in equity AUM. Controlled opex (down 12% YoY and down 3% QoQ) helped the company to report better core operating profit. Equity-oriented AUMs (% to total AUMs) came at 37% vs YoY 45.1% vs QoQ 37%. Market Share came at 13.6% vs YoY 14.9% vs QoQ 14.5%. Currently, HDFC trades at 40x of trailing earning, Fresh inflow into the MF industry and an increase in market share by HDFC AMC will boost investor confidence.
Shares of HDFC Asset Management Company Ltd was last trading in BSE at Rs.2358.35 as compared to the previous close of Rs. 2336.95. The total number of shares traded during the day was 18307 in over 2641 trades.
The stock hit an intraday high of Rs. 2363 and intraday low of 2314. The net turnover during the day was Rs. 42936645.