HDFC AMC shot a high day on Monday with its wow price at 1739.00 when it opened. The opening price of shares was 58 per cent more than its issue price, which makes the market grow higher and higher. At BSE stock exchange this share hit an intraday high of 1832. Later at 11 A.M, the share price was 1810.10 which is 64.55 per cent rise of its issue price. Whoever invested would earn an estimation of 4.09% profit.
As compare to BSE, NSE reported HDFC AMC price opened at Rs 1726.25, which is 56.90% more than the actual price. HDFC AMC has offered an IPO (initial public offer) which taken place between july 25 to july 27.The total IPO of Rs 2800.33 crore IPO was issued at the price band of Rs 1095 – Rs 1100.
HDFC AMC is an asset management company, in the powerful arm of HDFC, it was established in 1999. Not only IPO but HDFC offers some huge amount of gain to the public that all together calculates at 65. Standard Life Investments have been already owned around 26% stake in HDFC AMC. As on march 2018, they contain AUM of Rs 2,91,985 crore out of which 51% was equity AUM.
Apart from all these, the stock market hit a high trade, the sensex recorded an all time high of 37,805.25 while Nifty witnessed a hit of 11,427.65.
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