Shares of HDFC Asset Management Company (HDFC AMC) were up around 3% in early trade after brokerage firm Antique initiated coverage on the stock with a “Buy” rating and a target price of ₹6,000. As of 9:48 AM, the shares were trading 2.55% higher at Rs 5,126.50.
Antique believes the Indian mutual fund industry is set for steady growth, projecting over 15% compound annual growth in total assets under management (AUM), and more than 20% growth in active equity AUM. This outlook is based on expectations of moderate GDP and earnings growth, stable SIP inflows despite market fluctuations, increasing role of fintech platforms, and ongoing traction in passive funds.
The report notes that asset management companies could be in line for a valuation re-rating, supported by improving earnings. Among sector peers, Antique has highlighted HDFC AMC and Nippon Life India Asset Management (NAM) as preferred picks, citing consistent performance, steady market share in flows, and diversified equity portfolios.
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