HDFC AMC stock rises 5% despite GQG Partners offloading ₹397 cr shares. What should investors know?

On BSE, HDFC AMC’s share price closed at ₹1,764.80 apiece up by ₹81.80 or 4.86%. The stock has zoomed by at least 5.07% with an intraday high of ₹1,768.45 apiece.

On NSE, the stock ended at ₹1,762 apiece higher by ₹81.90 or 4.87%.

In a bulk deal, on Monday, as per NSE data, GQQ Partners Emerging Markets Equity Fund sold 24,78,905 equity shares at ₹1600.85 per share in HDFC AMC — aggregating to ₹396.84 crore.

In the initial days of March, Rajiv Jain’s GQG which is the leading US-based global equity investment boutiques made one of the largest mega buying in an open market in Adani Group stocks.

However, buying in HDFC AMC can be attributed to the huge investment by SBI Mutual Fund.

As per the data, SBI MF purchased 47,33,788 equity shares at ₹1,600 apiece in HDFC AMC — aggregating to ₹757.41 crore.

Talking about HDFC AMC, Yadhu Ramachandran, Research Analyst at Geojit Financial Services said, “though HDFC AMC’s financial growth is muted, the continuous focus on equity-oriented funds, new product launches, capturing new market share and steady yields are expected to enhance its performance in the near future.”

Ramachandran explained that HDFC AMC has a healthy pipeline of new product launches and steady SIP momentum to support AUM growth. However, the expansion of AUM and gaining additional market share across all segments are expected to boost overall growth in the near term.

Further, Geojit analyst said, “the management expects volumes to more than compensate for loss in margins. Green ticks were also seen in terms of onboarding of new customers, improved digital assets, and user experience.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.