[ad_1]
HDFC AMC Stock Price: The stock of HDFC AMC, the asset management company of HDFC Group, is looking bright after a long time. The company’s stock is trading at Rs 2071 with a gain of 9.60 per cent or Rs 179. The rise in the stock has come because UK-based Aberdeen Investment Management (Abrdn Investment Management), the promoter of the company, has sold Rs 2.18 crore shares of HDFC Asset Management after making a profit of 126 times.
Aberdeen Investment Management had bought over 8 crore shares in 2018 at Rs 15.01 per share. The company on Tuesday sold its entire 10.2 per cent stake in HDFC AMC at Rs 1800 to Rs 1892.45. Aberdeen Investment Management has gained 126 times per share on selling its stake. Aberdeen Investment Management is believed to have sold its entire 10.2 per cent stake through a block deal in the band of Rs 1800 to Rs 1892.45 per share. The company had also offered a discount of 4.9 per cent.
After this deal, there has been a sharp jump in the stock of HDFC AMC in Tuesday’s trading session. The stock saw a gain of about 10 per cent and on Monday the stock went straight to Rs 2081.65 from the closing price of Rs 1892.45.
Looking at the latest shareholding pattern of HDFC AMC, promoter HDFC AMC holds 62.77 per cent stake. Aberdeen Investment Management held 10.2 per cent stake, apart from this LIC held 9.21 per cent, mutual funds held 7.23 and FPI held 7.4 per cent.
HDFC AMC IPO came in July 2018. The company raised money in the IPO at Rs 1,100 per share. The listing of the company was excellent. The stock was listed on the Stock Exchanges around Rs.1937.
read this also
[ad_2]
Source link