HDFC AMC share price: Buy HDFC Asset Management Company, target price Rs 3400: IIFL

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IIFL bought the call on HDFC Asset Management Company Ltd. with a target price of Rs 3400. The current market price of HDFC Asset Management Company is Rs 3267.1.

The period given by the analyst is Intra Day when the price of HDFC Asset Management Company Ltd. can achieve the defined goal.

HDFC Asset Management Company Ltd., incorporated in 1999, is a large cap company (with a market capitalization of Rs 69623.30 Crore) operating in the financial services industry.


Finance
For the quarter ended 30-06-2021, the company reported stand-alone total income of Rs 607.99 crore, up 11.44% from last quarter total income of Rs 545.57 crore and up by 23.75% compared to the total income for the same quarter of last year of Rs 491.31 crore. The company reported after-tax net profit of Rs 345.45 Crore in the last quarter.


Justification of the investment
The stock saw a break in the consolidation pattern with a slight increase in volumes on the daily chart

Promoter / FiI Holdings
The promoters held 58.9% of the company’s capital as of March 31, 2021, while the FIIs held 25.7%, the DII 6.3% and the public and others 9.2%.

(Disclaimer: The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking any position in any of the stocks mentioned.


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