Prabhudas Lilladher Recommends 'BUY' HDFC AMC; Sets Target at Rs 2950
Business
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Moneycontrol•16-01-2026, 12:57
Prabhudas Lilladher Recommends 'BUY' HDFC AMC; Sets Target at Rs 2950
- •HDFC AMC reported a strong quarter with operating expenses 16% below Prabhudas Lilladher's estimate and revenue 1.0% higher.
- •Revenue yield improved to 46.5 bps, driven by a rise in equity share to 61.6% QoQ due to mark-to-market gains.
- •The company maintains a healthy market share in net equity flows (15.4% in 9MFY26) and saw a 10bps QoQ increase in stock market share in equity.
- •Prabhudas Lilladher expects HDFC AMC to benefit from increased flows due to its strong pedigree and superior 3-year performance.
- •Despite potential industry-wide profitability dent from SEBI directives on TER, HDFC AMC is expected to protect its profitability.
Why It Matters: Prabhudas Lilladher maintains a 'BUY' rating on HDFC AMC with a target price of Rs 2950, citing strong performance.
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