HDFC AMC hits highest level since listing; rises 12% in one week

The stock rallied 4.6% to Rs 1,916, extending its 7% gain in the past three days on the BSE, after the company reported 25% growth in net profit at Rs 2.05 billion in June quarter.

Shares of HDFC Asset Management Company have rallied 4.6% to Rs 1,916 per share, extending their 7% gain in the past three days on the BSE, after the company reported 25% growth in its net profit at Rs 2.05 billion in June quarter (Q1FY19).

Revenue from operations grew by 21% to Rs 4.71 billion during the quarter against Rs 3.90 billion in the corresponding quarter of previous year.

HDFC AMC’s assets under management (AUM) increased by 22% to Rs 3,011 billion at the end of Q1FY19 from Rs 2,478 billion in the year-ago period, the company said in a