HDFC Asset Management Company Ltd. share price target

While inflows witness a gradual uptick, challenges remain with declining market share and uncertainties. However, digital resurgence, new product launches, prospective inflows on the back of brand value should aid growth. Given balanced risk-reward position, we maintain our HOLD rating with a revised TP of Rs. 3,170 based on 41x FY23E EPS. Topline and PAT grow upon healthy inflows Total revenue from operations for Q1FY22 rose 23.2% YoY to Rs. 507cr, on healthy inflows into equity-oriented funds. EBITDA came in at Rs. 379cr (+20.5% YoY) while...

QAAUM rose to 4,156bn as of March 31, 2021 compared to 3,698bn as on March 31, 2020. Company achieved 12.9% market share on QAAUM basis of the mutual fund industry, as against 13.1% as on December 31,...

Steady performance; market share to be watched HDFC AMC's AUM saw a marginal decline of 2.7% QoQ to | 395500 crore (24% YoY), mainly led by ~19% QoQ decline in liquid AUM to | 63800 crore. Equity AUM increased 3% QoQ to | 165400 crore, now forming 43% of total AUM. HDFC AMC continued to witness decline in market share from 14.3% in Q4FY20 to 13.1% in Q3FY21 and 12.6% in Q4FY21. Equity AUM (actively...

With the evidence of better financial performance on a sequential basis, we generally have a positive view on the company's market positioning and strategy. As the market hovers around all-time-high, we may see some selling pressure in the coming months. Hence, as this juncture, we...

Industry AUM increased from | 26.9 lakh crore as of Q2FY21 to | 31 lakh crore as of Q3FY21, largely led by pick up in non-equity inflows. Equity related AUM increased by 12% YoY at | 12.2 lakh crore, proportion of equity AUM stood at 39% as against 41% YoY. Debt schemes witnessed healthy...

New product launches in Equity may hold promise: It plans to launch new investment styles and funds to mitigate the stagnancy of weak performance. It hired 2 fund managers with distinctive investment styles and carved out 2 schemes and is expected to carve another in few quarters. For the fund of its size, it believes it cannot depend on strategies based on market cap alone and need differentiated investment strategies to...