Buy HDFC Asset Management Company, target price Rs 2280: Yes Securities

Yes Securities has buy call on HDFC Asset Management Company Ltd. with a target price of Rs 2280. The current market price of HDFC Asset Management Company Ltd. is Rs 2168. Time period given by analyst is Intra Day when HDFC Asset Management Company Ltd. price can reach defined target.

HDFC Asset Management Company Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 46250.88 Crore) operating in Financial Services sector.

HDFC Asset Management Company Ltd. key Products/Revenue Segments include Investment Management & Advisory Fees and Income From Portfolio Management Services for the year ending 31-Mar-2021.

Financials


For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 635.88 Crore, up 4.52 % from last quarter Total Income of Rs 608.40 Crore and up 6.89 % from last year same quarter Total Income of Rs 594.91 Crore. Company reported net profit after tax of Rs 359.75 Crore in latest quarter.

Investment Rationale

The stock has taken support at the cluster of previous lows suggesting strong support area. Further, volumes have also been low in the recent correction which also suggests that downtrend has been arrested.

Promoter/FII Holdings

Promoters held 68.84 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.33 per cent, DIIs 2.64 per cent.

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