AMC stocks rally on robust Q3 show
AMC shares rose on Friday after strong earnings in the December quarter. Newly listed companies, including ICICI Prudential AMC, Canara Robeco AMC, and HDFC AMC, saw significant gains. HDFC AMC reported a 15% increase in operating revenue and 20% increase in profit after tax, resulting in a 23% rise in target price. Smaller schemes are less impacted by TER reduction, as per HDFC.