Business

HDFC AMC Shares Gain As Abrdn Seeks To Sell Entire Stake

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While the transaction may take some time to complete, identifying the buyer may address share supply overhang and aid re-rating, according to Jefferies. It maintained a “buy” rating on HDFC AMC with a target price of Rs 2,450, implying a potential upside of 12%.

Morgan Stanley said if the stake sale gets regulatory approval, “it could result in a short-term rally in the stock and alleviate the supply risk.”

“On a separate note, if Abrdn has already found a single buyer, it likely augurs well in terms of potential demand for quality, high-headline valuation Indian financials with impending supply, such as ICICI Lombard, that have derated over many months,” it said.



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