Major fund houses report a sharp rise in online transactions, driven by changing investor habits, distributor behaviour, and fast-growing fintech platforms.
HDFC Asset Management Company (HDFC AMC) reported a healthy profit after tax (PAT) of Rs 430 crore for the July-September quarter (Q2) of financial year 2023-24 (FY24). It rose 20.2 per cent year-on-year (Y-o-Y) and decreased 8.4 per cent quarter-on-quarter (Q-o-Q). This was driven by good equity returns, leading to a sequential improvement in revenue yields.
Although a one-off tax provision negatively impacted the bottom line, HDFC Asset Management Company (HDFC AMC) posted an excellent operational performance in Q2FY25. The equity quarterly average assets under management (QAAUM) growth was 14.7 per cent quarter-on-quarter (Q-o-Q). And, equity AUM market share rose 50 basis points (bps) year-on-year (Y-o-Y) to 12.9 per cent.
Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the 30-share BSE Sensex from June 24, according to an official announcement on Friday. This marks the first inclusion of any Adani Group firm in Sensex. The group has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore.
Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
'The deal pipeline across products is robust for 2024.'
The Reserve Bank of India is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said. The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal's (NCLT's) approval recently - a key milestone to close the deal in due time. The management of both the entities had said that it will take 15-18 months for the merger.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
UK-based Standard Life, the joint venture partner in HDFC Standard Life Insurance and HDFC Asset Management Company, is entering the Indian private equity space. Gerry Grimstone, chairman of the British insurance major, speaks to Business Standard's Shilpy Sinha on the impact of the economic slowdown and the company's investment plans.
With domestic savings rising, there is strong case that they may; but, equally, it may be premature to underestimate the potency of foreign flows.
Housing Development Finance Corporation Ltd on Saturday decided to divest up to 10 per cent of its stake in HDFC Asset Management Company.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Given its focus on the real estate sector, financial planners feel this scheme is not meant for first-time investors and any investor should only have 5 to 10 per cent exposure to this fund.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on a weekly basis.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
'Indians are great savers, but they are lousy investors.'
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