HDFC AMC gets RBI nod to buy stake in Karur Vysya Bank, DCB Bank; stocks rise up to 4%
HDFC AMC has received the RBI approval to acquire up to 9.5% stake each in Karur Vysya Bank and DCB Bank
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Nykaa, ACC, HDFC AMC, Indus Towers, Page Ind shares fall up to 3% on exclusion from Nifty Next 50
PNB, Trent, TVS Motor, Shriram Finance, and Zydus Lifesciences will replace these five stocks in the Nifty Next 50 index, effective from September 29, 2023.
HDFC AMC shares surge 9% amid block deal
Abrdn Investment, formerly Standard Life, to sell its entire 10.2% stake in HDFC AMC via a block deal today.
HDFC-HDFC Bank merger: HDFC AMC gets SEBI's nod for change in control
Both HDFC (Housing Development Finance Corporation and HDFC Bank expect the merger to be completed in July this year.
HDFC AMC Q4 profit rises 9%, declares dividend of ₹48
The asset management company reported 9.5% YoY growth in its profit at ₹376.1 crore for Q4FY23, while revenue rose 5% YoY to ₹540.9 crore.
SBI MF buys over 2% stake in HDFC AMC; stock jumps 5%
SBI Mutual Fund on Monday purchased 47.33 lakh shares of HDFC AMC for ₹757.40 crore through an open market transaction.
HDFC AMC surges 5% as promoter abrdn plans to exit
abrdn Investment Management will sell its entire 10.21% stake in HDFC AMC, which would fetch around ₹4,700 crore to the U.K.-based firm.
‘See rapid growth for mutual funds’
Despite rising crude oil prices and looming elections hanging over the markets, HDFC chairman Deepak Parekh is confident that the common man will continue to pick mutual funds to invest savings in.
