India's HDFC Asset Management rises most in over 7-mths on block deals

HDFC Asset Management

21/03/2023 07:05

** Shares of HDFC Asset Management Company Ltd  HDFA.NS 
rise as much as 4.8% to 1,761.5 rupees, their biggest intraday
pct jump since Aug. 16, 2022
    ** GQG Partners sells 2.48 million shares while SBI Mutual
Fund buys 4.73 million shares, via open market transactions
    ** If gains hold, co to advance for second consecutive
session
    ** About 1.3 million shares change hands by 12:20 p.m. IST,
2.2x the 30-day avg of 563,652 shares - Refinitiv data
    ** Stock trading below 50-, 100- and 200-day simple moving
average 
    ** Of the 19 analysts covering the stock, 13 have a "buy" or
"strong buy" rating, four recommend "hold" while two rate it at
"sell" or "strong sell"; median PT is 2,237.5 rupees 
    ** Stock down ~23% so far this year, as of last close vs
Nifty Financial Services  .NIFTYFIN  which fell ~7.5%


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))