Shares of HDFC AMC jumped over 5% on Tuesday to Rs 1,761 after large block deals in the counter on Monday. According to data available on exchanges, GQG Partners offloaded 1.16% of their stake or 24.7 lakh shares at Rs 1,600 via a block deal on Monday.. SBI Mutual Fund bought 47.3 lakh shares of HDFC AMC on Monday at Rs 1,600 per share, with the total deal amounting to Rs 757 crore.
Two schemes of SBI MF—SBI Contra Fund and SBI Magnum Equity ESG Fund—added to their holding in HDFC AMC, BQ Prime reported quoting sources.
At 1:30 PM on Tuesday, shares of HDFC AMC were up 4.8% or Rs 81 at Rs 1,761. On Monday, the stock had hit a 3-year low of Rs 1,589 on the NSE after reports suggested that GQG partners sold over 2% equity via a block deal. In the last three months, HDFC AMC stock has declined over 22%, data shows.
HDFC AMC is one of India’s preferred mutual fund managers, with total Assets Under Management (AUM) of 4.16 lakh crore as of July 2022, data from their website shows.
Ahmedabad Plane Crash