HDFC AMC (Asset Management Company), the fourth publicly-listed company from India's leading financial conglomerate HDFC, saw a massive appreciation of about 67% in the share prices upon its blockbuster stock market debut on Monday.
HDFC AMC (Asset Management Company), the fourth publicly-listed company from India’s leading financial conglomerate HDFC, saw a massive appreciation of about 67% in the share prices upon its blockbuster stock market debut on Monday. With such a bumper stock market listing on Monday, HDFC AMC entered the top 100 companies by market capitalisation on BSE (Bombay Stock Exchange). HDFC AMC share price surged as much as 66.82% to a day’s high of Rs 1,835 on NSE and 66.55% to a day’s high of Rs 1,832 on BSE.
Following the huge uptick in the share prices, HDFC AMC topped a market capitalisation or stock market value of Rs 38,852 crore on the basis of a share price level of Rs 1,832 on BSE. According to the data available with BSE, the top 100th company (Berger Paints) held a market capitalisation of Rs 30,519 crore as on Friday. At the time of writing, the stock market value of HDFC AMC was at Rs 38,346.65 crore.
With a market capitalisation of more than Rs 38,000 crore, HDFC AMC is now more valuable than companies such as Hindustan Aeronautics, Shriram Transport Finance, DLF, SAIL, UPL, MRF, Page Industries, Proctor & Gamble Hygiene & Health Care, Oracle, Biocon, ICICI Lombard General Insurance, Siemens, Dr Reddy’s. HDFC AMC shares are admitted into the ‘B’ group of BSE. HDFC AMC got 541729 as the security code and INE127D01025 as an ISIN.
A huge inclination was seen towards HDFC AMC shares today as HDFC AMC stock emerged in the top 10 most traded stocks on National Stock Exchange, India’s biggest stock exchange by trading volumes and turnovers, and topped the exchange turnover with more than Rs 2.3 crore worth of equity shares already traded on NSE alone. As at 11:38 am, about 1.29 equity shares exchange hands on NSE while 23 lakh shares were traded on BSE.
HDFC AMC, country’s second-biggest mutual fund company after ICICI Prudential Mutual Fund, received humungous participation during its IPO (initial public offering) in July following which the Rs 2,800 crore initial share sale of HDFC Mutual Fund got subscribed by 83 times at the end of a three-day bidding process.