Rs 48/- Per Equity Share Dividend Declared: Financial Services Stock Falls 15% In 1-Yr

Board of large cap stock operating in financial services sector, HDFC Asset Management Company announced Rs 48/- Per Equity Share Dividend on April 25, 2023. The stock witnessed a dip of 15% in last 1-year and 37% in last 2-years. The company declared a 9% surge in profit after tax to Rs 376.1 crore for the quarter ended March 2023 as against Rs 343 crore in the same period last year. Sequentially, its net profit surged nearly 2% from Rs 369.40 in Q3FY23 (October-December). Check details below:

HDFC Asset Management Company Announces Dividend: According to the BSE filing of the company, "The Board of Directors in the said meeting has recommended a dividend of Rs. 48/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 3 1, 2023, subject to approval of shareholders at the ensuing Annual General Meeting. The dividend if approved by the shareholders, will be dispatched I remitted commencing from the day after the ensuing Annual General Meeting."

HDFC Asset Management Company Stock Performance & Return: The current market price of HDFC Asset Management Company share on BSE is Rs 1757.75 with intraday fall of 0.46%. The stock's 52-week high price is Rs 2314.00 per share and 52-week low price is Rs 1595.25 per share, respectively. The company has a market capitalisation of Rs 37,514.73 crore. The stock fell 14% in last 6-months, 37% in last 2-year, and 27% in last 3-years. However, it managed to gave positive return of 5.29% in last 1-month.

HDFC Asset Management Company About: HDFC Asset Management Company Limited is engaged in providing asset management services to Housing Development Finance Corporation Limited (HDFC) Mutual Fund. It also offers portfolio management and segregated account services, including discretionary, non-discretionary and advisory services, to high-net-worth individuals (HNIs), family offices, domestic corporates, etc.

Disclaimer:The stock declared audited results and dividend on April 25. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.