HDFC AMC surges 7% to hit fresh lifetime high, m-cap tops Rs 50,000 crore

Thus far in the current financial year 2019-20, the stock has zoomed 56 per cent, as compared to 3 per cent decline in the S&P BSE Sensex.

Shares of HDFC Asset Management Company (AMC) surged 7 per cent to hit a new lifetime high of Rs 2,396 on the BSE in Tuesday's early morning trade on strong growth outlook and overseas investors buying. The stock surpassed its previous high of Rs 2,370, recorded on July 19, in intra-day trade.

HDFC AMC, investment manager to HDFC Mutual Fund, is one of the leading asset management companies in the country. In the past three trading days, the stock has outpaced the market by gaining 12 per cent, as compared to 3 per cent rise in the benchmark index.