The outcome of HDFC AMC Q3-FY21 was a blow to PAT led mainly by other earnings. Sales were in line and operating costs were slightly higher, resulting in a PAT of 370 crore (our estimate: 340 crore). Opex efficiency remains a focus and the company is maintaining its target cost savings of £ 35 billion to £ 40 billion in FY 21E, of which £ 25 million in FY 21 9M.
Sales of approximately 482 crore (largely in line) while QAAUM was 3.89,500 crore was mostly as expected. The SIP for December 20 increased slightly to 910 crore versus 900 crore Q-O-Q. The other income of 113.10 crore exceeds the estimate of 82 crore.
We are bullish on the AMC space as the stock market appreciation is not yet fully reflected in AMC company valuations. We like HDFC AMC for its Opex efficiency, distribution network and market leadership. Due to the recovery of the stock markets and the recent changes in management, we are planning a better stock performance compared to fiscal year 21-.
We have not changed our estimates for fiscal year 21/22 significantly. However, AMC valuations have yet to fully reflect the strong recovery in equity markets in 9M-FY21.
We’re increasing our P / E to 43.2x (36.0x earlier), rolling forward to FY23E EPS and revising our TP to £ 3,630 (£ 2,741 earlier).
What is AMC in HDFC?
HDFC Asset Management Company ( u201cHDFC AMC u201d) is the investment manager for the systems of the HDFC Mutual Fund ( u201cHDFC MF u201d). … We have a dominant position in equity investments with the highest market share in actively managed equity-based funds.
Who is the CEO of HDFC Mutual Fund?
Navneet Munot has been named Managing Director and Chief Executive Officer of HDFC Asset Management Co. Ltd. the company announced on Monday in a registration application.
How does AMC make money?
The central theses. Mutual funds make money by charging investors a percentage of the assets under management and can also charge a sales commission (load) when buying or redeeming funds.
Who is the promoter of HDFC AMC?
HDFC AMC is jointly owned by HDFC Ltd (52.76%) and Standard Life (26.89%) with a 79.6% stake.
What is AMC on the stock exchange?
An asset management company (AMC) is a firm that invests pooled funds from clients and uses the capital for a variety of investments including stocks, bonds, real estate, master limited partnerships, and more. … Asset management companies are colloquially referred to as money managers or money management companies.
Which is the best AMC in India?
ICICI Prudential Mutual Fund With an AUM size of approximately GBP 3 billion, ICICI Prudential Asset Management Company Ltd. the largest asset management company (AMC) in the country.
What is the full meaning of AMC?
AMC stands for Annual Maintenance Contract. It is also known as the annual maintenance cost. … It can be extended to two or more years in accordance with the agreement between the parties. At AMC, the company usually provides service support and charges to the customer for the faulty parts of the machine.
What is the minimum asset requirement for AMC?
The capital adequacy, i.e. H. The Minimum Net Value of Asset Management Companies (AMC) will be increased to 50 billion rupees. The concept of starting capital to be introduced, d. H. 1% of the amount raised (subject to a maximum amount of Rs. 50 lakh) to be invested by AMCs in all open systems during their term.
Is HDFC AMC a multi-excavator?
HDFC AMC was the only large largecap that turned out to be a multi-excavator.
How do you know if a stock is multibagger?
Multibagger stocks are those that produce a return of 100% or more. A 2 excavator would give you a 100% return while a 5 excavator would give you a 500% return.
Why is HDFC falling to AMC?
HDFC AMC also has the highest equity AUM in the entire AUM mix. As the average AUM fell 30-40% due to the recent market decline, the company’s earnings also fell. This is because for asset management firms, the returns are primarily the expense ratio they calculate, which is directly tied to the assets under management (AUM).
What was the HDFC IPO price?
|Output size:||2800 Cr.|
|Lot size:||13 shares|
|Issue price:||1095-1100 per share|
|Listing At:||NSE, BSE|
How does HDFC AMC work?
HDFC Asset Management (HDFC AMC) is the investment manager of HDFC Mutual Fund (HDFC MF), the largest mutual fund in India with a total AUM of Rs. 343938 crore as of March 31, 2019. HDFC AMC has a diversified asset class Mix of stocks and fixed-income securities / other.
Are IPO profits taxable?
Capital gains are divided into short-term and long-term. … « If you sold these shares on the Recognized Exchange and paid STT for the sale transaction, those gains will be taxed at 15 percent under Section 111A of the Income Tax Act. » adds Chandak.
Which IPO is imminent?
|initial public offering||Preliminary problem size (in Rs crores) *||Preliminary date *|
|Indian Railway Finance Company (IRFC)||4,633.38||18.-20. January 2021|
|Indigo colors||1,000||January 20-22, 2021|
|Kalyan jewelers||1,750||January to March 2021|