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HDFC AMC Shares Gain As Abrdn Seeks To Sell Entire Stake


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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