India's HDFC Asset Management gains on Q3 profit rise

HDFC Asset Management

15/01/2025 04:28

** HDFC Asset Management  HDFA.NS  climbs 3.5% to 3,999.95
rupees
    ** Mutual fund manager reports 31.4% y/y rise in
December-qtr consol net profit; rev up 39.3% y/y
    ** At least six brokerages hike PT  post results; three
upgrade stock - LSEG
    ** Citi Research says cost control measures, repricing of
assets major drivers of strong earnings; hikes PT by 2.8% to
3,700 rupees, retains "sell"
    ** Morgan Stanley says co beat its profit estimates on
higher equity yields on full impact of commissions taken in Q2
and cost control measures
    ** Retains "equal-weight" rating and PT at 4,120 rupees
    ** Centrum Broking says co reported strong Q3 numbers
despite market volatility; upgrades to "buy", hikes PT by 9% to
4,990 rupees
    ** Stock rated "buy" on avg; median PT is 4,831 rupees
    ** HDFA gained 31% in 2024

 (Reporting by Manvi Pant)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))