HDFC AMC hits new 52-week low on MSCI exclusion; stock down 18% in a month

From India, MSCI has added 4 stocks - Adani Power, AU Small Finance Bank, Jindal Steel & Power and Tata Elxsi, whereas, deleted HDFC AMC.

Shares of HDFC Asset Management Company (AMC) hit fresh 52-week low of Rs 1,809.05, down 2 per cent on the BSE in Friday’s intra-day trade in an otherwise firm market. The decline comes after index provider MSCI excluded the stock in its global indices.

At 11:18 am; HDFC AMC traded 1 per cent lower at Rs 1,827, as compared to 1 per cent rise in the S&P BSE Sensex at 53,485 points. In the past one month, the stock underperformed market by falling 18 per cent, against 8 per cent decline in the benchmark index. The stock has almost