HSBC has maintained a hold call on HDFC Asset Management Company (AMC) with a target price of ₹4,350/share, indicating an upside potential of 11.57% from the current market price of ₹3,899.05. The rationalisation of commission payouts and controlled operating costs contributed to strong profit growth in Q3.
However, the report highlights that the company’s market share in equity assets under management (AUM) and SIP flows has stagnated, which may exert pressure on its high valuations. HSBC has raised its FY25-27 EPS estimates by 0.4-4.1%.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
