HDFC AMC hits new high on MSCI inclusion; zooms 204% against issue price

The stock was trading at its highest level since its listing on August 6, 2018, and has zoomed 203 per cent from its initial public offer (IPO) price of Rs 1,100 per share.

Shares of HDFC Asset Management Company (AMC) were trading higher for the third straight day, up 5 per cent in an otherwise subdued market, at Rs 3,345 on the BSE on Monday. The stock was trading at its highest level since its listing on August 6, 2018, and has zoomed 204.09 per cent from its initial public offer (IPO) price of Rs 1,100 per share.

In the past three days, the stock has rallied 14 per cent after MSCI Global Standard Index decided to include the stock in the MSCI India index, with effect from November 26, 2019. In comparison, the