Shares of CAMS (Computer Age Management Services) experienced a nearly 2% decline in early trades on the NSE on January 24, a day after it was revealed that HDFC Bank had divested 2% of its share capital.
According to a regulatory filing on January 23, HDFC Bank sold 9,86,315 shares, representing 2.01% of the share capital of CAMS. The sale involved 2% of the 29,20,724 equity shares (of Rs. 10 each) held by the Bank in Computer Age Management Services Limited (CAMS), following the effective date (July 1, 2023) of the merger of HDFC Ltd into HDFC Bank. As of December 2023, HDFC Bank held a 3.99% stake in CAMS, which will now be reduced to around 1.9% after the latest sale.
In Q2FY24, CAMS reported a revenue of Rs 275.08 crore, marking a 13.5% increase from Rs 242.37 crore a year ago. The net profit for the same period grew to Rs 84.51 crore, compared to Rs 72.14 crore in the previous fiscal, showcasing positive financial performance. Investors are monitoring the impact of the stake sale on CAMS’ market dynamics.
As of 10:46 am the shares were trading 1.71% lower at ₹2,693.05
