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<keyword id="696744" type="General" weightage="20" keywordseo="hdfc-asset-management-company" source="Orion">HDFC Asset Management Company</keyword> (AMC) on Monday reported a 52% jump in profit after tax (PAT) at ₹477.5 crore for three months ended June 2023. In comparison, the asset management firm posted a PAT of ₹314.2 crore in the year-ago period, <keyword id="45123" type="General" weightage="20" keywordseo="hdfc" source="Orion">HDFC</keyword> AMC said in a regulatory filing. Revenue from operations rose 10% to ₹574.5 crore in the quarter under review, from ₹521.6 crore in the April-June quarter of the preceding fiscal. With a market share of 11.3 %, HDFC AMC's average assets under management (AAUM) grew to ₹ 4.86 lakh crore in the first quarter ended June 30, 2023 from ₹ 4.15 lakh crore in the year-ago period. The company serves a mutual fund customer base of 71 lakh individuals, with a total of 122 lakh live accounts. Shares of HDFC AMC settled marginally lower at ₹ 2,498.15 apiece on the BSE.

HDFC AMC Q1 profit after tax jumps 52% to ₹477 cr

New Delhi, Jan 12 () Quarterly earnings, inflation data and the much-awaited US-China trade deal signing would drive the equity markets this week, according to analysts.
 "Market wants to look forward where Q3 earnings and pre-Budget movement will be the theme of this week. In terms of earnings, Wipro, IndusInd Bank, Reliance Industries, HCL Technologies and HDFC Bank will be key companies that will post their Q3 results this week," said Santosh Meena, Senior Research Analyst, TradingBells.
 He added that Infosys shares may react positively on Monday after the company's audit committee gave a clean chit to the management on allegations of misconduct.
 Infosys on Friday said the board's audit committee has completed the independent probe into the anonymous whistleblower allegations and found "no evidence" of financial impropriety or executive misconduct.
 The IT services major reported a 23.7 per cent rise in consolidated net profit at Rs 4,466 crore for the December quarter. The earnings were announced after market hours on Friday.
 "Markets will first react to IT major Infosys results in the early trade on Monday. Meanwhile, volatility would remain high on the stock-specific front due to prevailing earnings season and global uncertainty," said Ajit Mishra, VP - Research, Religare Broking Ltd.
 Among macroeconomic data announcements, retail and WPI inflation numbers will be released on Monday and Tuesday, respectively.
 On the global front, with US-Iran tensions cooling off, focus will largely shift to the upcoming US-China trade deal signing.
 Kotak Mahindra Asset Management Company, Senior VP and Head of Equity Research, Shibani Kurian said, "From here on, the equity markets would focus on the upcoming Union Budget and also RBI policy at the start of February. Markets would also take cues from the Q3 FY20 earnings season with key focus being on management commentary on business outlook."
 Markets would on Monday may also react to industrial production data which was announced post market hours on Friday.
 The country's industrial output grew 1.8 per cent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.
 "Markets are heading for testing times given that the result season has set in and Budget parleys too will have to be digested in weeks to come. Volatility is expected to increase, although prices are not expected to move much till Budget. However, sector specific rallies are likely to continue," Jimeet Modi, Founder &amp; CEO, SAMCO Securities &amp; StockNote said.
 During the last week, the Sensex advanced 135.11 points or 0.32 per cent. SUM ABM
ABM

Markets to eye earnings report card, inflation, global events this week: Analysts

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

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HDFC AMC Q1 profit after tax jumps 52% to ₹477 cr

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Markets to eye earnings report card, inflation, global events this week: Analysts

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Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

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