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HDFC AMC jumps as Abrdn Investment Management planning to sell entire stake in company
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HDFC Asset Management Company is currently trading at Rs. 2232.90, up by 40.55 points or 1.85% from its previous closing of Rs. 2192.35 on the BSE.
The scrip opened at Rs. 2190.30 and has touched a high and low of Rs. 2294.05 and Rs. 2190.30 respectively. So far 62997 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2598.00 on 10-Dec-2021 and a 52 week low of Rs. 1690.65 on 24-May-2022.
Last one week high and low of the scrip stood at Rs. 2294.05 and Rs. 2165.15 respectively. The current market cap of the company is Rs. 47771.72 crore.
The promoters holding in the company stood at 62.80%, while Institutions and Non-Institutions held 24.61% and 12.59% respectively.
Abrdn Investment Management, one of the promoters, is planning to sell the entire stake in HDFC Asset Management Company (HDFC AMC) subject to applicable regulatory provisions. abrdn Investment Management is holding 10.21% of the paid-up share capital of the Company.
Consequent to the proposed stake sale, abrdn Investment Management will cease to be a co-sponsor of HDFC Mutual Fund under SEBI (Mutual Funds) Regulations, 1996.
HDFC Asset Management Company offers a large suite of savings and investment products across asset classes, which provide income and wealth creation opportunities to its customers.
