HDFC AMC shine on a volatile day; gets within 10 per cent range of its 52-week high

HDFC AMC is up by more than 10 per cent in one month.

HDFC AMC gains during Tuesday’s morning session even as Sensex struggles to stay in the green. HDFC AMC is up by more than 2 per cent on an intraday basis while Sensex is down by more than 100 points.  HDFC AMC made a high of Rs 3,118 per share in the first hour of the trading session; thus, inching closer to its 52-week high of Rs 3,358 per share. At current prices, HDFC AMC is within 10 per cent range of its 52-week high. This indicates the price momentum in the counter. 

The share prices of the AMC stocks have been on the rise in the past one month with FIIs showing interest in the AMC counters. Nippon Life Asset Management also made a fresh 52-week high for itself in today's trade. 

On Monday this week, BSE announced that it has now got seven crore investors registered on its platform. With all the 7 crore figures being investors registered with Unique Client Code, we can say that the investors base in India is rapidly increasing. BSE data also hinted that the maximum number of investors belong to the age group of 30 to 40 years. There is a definite increase in investment registration in India and HDFC AMC is one of the biggest beneficiaries along with the other AMCs as well as companies such as CDSL & BSE itself. 

Besides, HDFC AMC is up by more than 10 per cent in one month.