India's HDFC Asset Management hits more than 4-yr high on Q3 profit jump

HDFC Asset Management

11/01/2024 09:32

** Shares of HDFC Asset Management Co  HDFA.NS  rise as much
as 3.5% to 3,537.8 rupees, highest since Dec. 2, 2019
    ** The mutual fund manager said on Thursday its Dec qtr
profit after tax jumped ~33% to 4.9 bln rupees ($59.01 million)
    ** Co's rev from ops up ~20% Y/Y
    ** Average rating of analysts covering the stock is "hold";
stock currently trading ~18% above its median PT of 3,000 rupees
- LSEG data
    ** Stock gained ~47% in 2023, snapping three consecutive
yearly losses



($1 = 83.0360 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))