Latest news with #UTIAMC
Time of India
3 days ago
- Business
- Time of India
UTI AMC, HDFC, Nippon rally up to 6% after June AMFI data, ICICI Prudential IPO plans
AMFI Data Live Events ICICI Prudential AMC IPO filing Shares of asset management companies (AMCs), including UTI AMC HDFC AMC , and Nippon Life India AMC surged up to 6% on Thursday. The rally followed the release of June mutual fund data by the Association of Mutual Funds in India ( AMFI ) and ICICI Prudential AMC 's filing for an initial public offering ( IPO ), which boosted investor sentiment across the of UTI AMC surged the most, rising 6% to hit the day's high of Rs 1,429 from the previous close of Rs 1,343, while HDFC AMC and Nippon Life India Asset Management also gained around 2% Prudential Asset Management Company, India's second-largest asset manager by assets under management, has submitted draft IPO documents to the Securities and Exchange Board of India (SEBI) on July 8, aiming to launch a public Read | Gold ETFs: 600% surge in monthly inflows to Rs 2,080 crore. Are you late to the party? According to AMFI data, the net inflows into equity mutual funds (MFs) jumped 24% to Rs 23,587 crore in June compared with inflows of Rs 19,013 crore in the 11 sub-categories of equity mutual funds, all categories except ELSS recorded inflows in June. Flexi cap funds remained investors' favourite, attracting the highest inflows of Rs 5,733 crore, compared to Rs 3,841 crore in May, marking a 49% month-on-month mutual funds witnessed outflows of Rs 1,711 crore in June, compared to Rs 15,908 crore in outflows during the previous month. Among the 16 sub-categories, eight recorded inflows, while the remaining eight saw outflowsShort-duration funds received the highest inflow of Rs 10,276 crore, followed by money market funds, which saw inflows of Rs 9,484 crore during the same period. On the outflow side, liquid funds saw the highest outflow of Rs 25,196 crore in June, compared to an inflow of Rs 40,205 crore in funds saw a 12% rise in monthly inflows, receiving Rs 23,222 crore in June, up from Rs 20,765 crore in May. Arbitrage funds attracted the highest inflow among hybrid categories at Rs 15,584 schemes, which include passive funds such as index funds and ETFs, saw a decline of 28% in monthly inflows. These funds received an inflow of Rs 3,997 crore in June against an inflow of Rs 5,525 crore in overall mutual fund inflows went up by 67% on a monthly basis to Rs 49,301 crore in June, against an inflow of Rs 29,572 crore in total assets under management (AUM) registered a growth of 3% on a monthly basis. The total mutual fund AUM stood at Rs 74.14 lakh crore in June, compared to Rs 71.93 lakh crore in Read | Equity mutual fund inflows jump 24% to Rs 23,587 crore in June: AMFI Data The proposed ICICI Prudential AMC IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings, the UK-based joint venture partner. As there is no fresh issue involved, all proceeds from the offering will go directly to the selling shareholder, with ICICI Prudential AMC receiving no capital infusion from the successful, the IPO will make ICICI Prudential AMC the fifth company from the ICICI Group to be publicly listed, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities. It will also become the fifth asset management firm to go public, following HDFC AMC, UTI AMC, Nippon Life India AMC, Aditya Birla Sun Life AMC, and Shriram IPO is being managed by an unprecedented 18 merchant bankers — the highest ever for an Indian IPO. These include global and domestic firms such as Citigroup, Morgan Stanley, BofA Securities, Axis Capital , CLSA, IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Capital, ICICI Securities, Goldman Sachs, Avendus Capital, BNP Paribas JM Financial , Motilal Oswal, Nuvama Wealth, and UBS Securities India.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
3 days ago
- Business
- Economic Times
UTI AMC, HDFC, Nippon rally up to 6% after June AMFI data, ICICI Prudential IPO plans
iStock The proposed ICICI Prudential AMC IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings. Shares of asset management companies (AMCs), including UTI AMC, HDFC AMC, and Nippon Life India AMC surged up to 6% on Thursday. The rally followed the release of June mutual fund data by the Association of Mutual Funds in India (AMFI) and ICICI Prudential AMC's filing for an initial public offering (IPO), which boosted investor sentiment across the sector. Shares of UTI AMC surged the most, rising 6% to hit the day's high of Rs 1,429 from the previous close of Rs 1,343, while HDFC AMC and Nippon Life India Asset Management also gained around 2% each. ICICI Prudential Asset Management Company, India's second-largest asset manager by assets under management, has submitted draft IPO documents to the Securities and Exchange Board of India (SEBI) on July 8, aiming to launch a public offering. Also Read | Gold ETFs: 600% surge in monthly inflows to Rs 2,080 crore. Are you late to the party?According to AMFI data, the net inflows into equity mutual funds (MFs) jumped 24% to Rs 23,587 crore in June compared with inflows of Rs 19,013 crore in May. Among the 11 sub-categories of equity mutual funds, all categories except ELSS recorded inflows in June. Flexi cap funds remained investors' favourite, attracting the highest inflows of Rs 5,733 crore, compared to Rs 3,841 crore in May, marking a 49% month-on-month mutual funds witnessed outflows of Rs 1,711 crore in June, compared to Rs 15,908 crore in outflows during the previous month. Among the 16 sub-categories, eight recorded inflows, while the remaining eight saw outflowsShort-duration funds received the highest inflow of Rs 10,276 crore, followed by money market funds, which saw inflows of Rs 9,484 crore during the same period. On the outflow side, liquid funds saw the highest outflow of Rs 25,196 crore in June, compared to an inflow of Rs 40,205 crore in funds saw a 12% rise in monthly inflows, receiving Rs 23,222 crore in June, up from Rs 20,765 crore in May. Arbitrage funds attracted the highest inflow among hybrid categories at Rs 15,584 schemes, which include passive funds such as index funds and ETFs, saw a decline of 28% in monthly inflows. These funds received an inflow of Rs 3,997 crore in June against an inflow of Rs 5,525 crore in overall mutual fund inflows went up by 67% on a monthly basis to Rs 49,301 crore in June, against an inflow of Rs 29,572 crore in total assets under management (AUM) registered a growth of 3% on a monthly basis. The total mutual fund AUM stood at Rs 74.14 lakh crore in June, compared to Rs 71.93 lakh crore in May. Also Read | Equity mutual fund inflows jump 24% to Rs 23,587 crore in June: AMFI Data The proposed ICICI Prudential AMC IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings, the UK-based joint venture partner. As there is no fresh issue involved, all proceeds from the offering will go directly to the selling shareholder, with ICICI Prudential AMC receiving no capital infusion from the successful, the IPO will make ICICI Prudential AMC the fifth company from the ICICI Group to be publicly listed, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities. It will also become the fifth asset management firm to go public, following HDFC AMC, UTI AMC, Nippon Life India AMC, Aditya Birla Sun Life AMC, and Shriram AMC. The IPO is being managed by an unprecedented 18 merchant bankers — the highest ever for an Indian IPO. These include global and domestic firms such as Citigroup, Morgan Stanley, BofA Securities, Axis Capital, CLSA, IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Capital, ICICI Securities, Goldman Sachs, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama Wealth, and UBS Securities India. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
3 days ago
- Business
- Business Standard
HDFC AMC, UTI AMC: Uptick in SIP flows turn analysts bullish on AMC stocks
AMC stocks India: AMC stocks to buy: Mutual fund inflows, strong SIPs, and market recovery boost earnings outlook for AMCs. UTI AMC, HDFC AMC, Nippon AMC among top picks from brokerages Listen to This Article AMC stocks to buy: Investors latched on to shares of asset management companies (AMCs) on Thursday as analysts saw further upside in the sector, driven by steady mutual fund (MF) flows and a recovery in the secondary market. This, they said, should aid earnings recovery for related players in the coming quarters. On the bourses, UTI Asset Management Company (UTI AMC) shares hit a record high of ₹1,428 per share on the BSE, rising 6.3 per cent in the intraday trade. Shares of HDFC AMC, Shriram AMC, Nippon Life India Asset Management, Escorp Asset Management, and
Mint
3 days ago
- Business
- Mint
UTI Asset Management Company shares surge over 6% to record high; here's why
Shares of UTI Asset Management Company (UTI AMC) surged over 6 percent on Thursday, July 10, reaching a new all-time high of ₹ 1,427.95. The rally followed the company's announcement of a details regarding final dividend payout and its upcoming 22nd Annual General Meeting (AGM), scheduled for the end of July 2025. The dividend proposal, which includes both a regular and a special dividend, signaled strong financial health and a shareholder-friendly approach, boosting investor sentiment. In a board meeting held on April 29, 2025, UTI AMC's Board of Directors recommended a final dividend of ₹ 48 per equity share for the financial year ended March 31, 2025. This consists of a normal dividend of ₹ 26 and a special dividend of ₹ 22 per share. The total dividend represents a payout of 480 percent on the face value of ₹ 10 per share. This dividend is subject to shareholder approval at the company's upcoming AGM. Once approved, it will be paid to all shareholders whose names appear in the company's register of members or as beneficial owners as of the close of business on July 24, 2025. UTI AMC will hold its 22nd Annual General Meeting on Thursday, July 31, 2025, at 4:00 PM IST. The meeting will be held through Video Conferencing (VC) or Other Audio-Visual Means (OAVM), in line with regulatory guidelines. Shareholders will consider and approve the company's audited financial statements for FY25, the proposed dividend, and the reappointment of Mr. Srivatsa Desikamani, a nominee director representing T. Rowe Price International Ltd. Record Date: Thursday, July 24, 2025 (to determine eligibility for dividend and e-voting) Book Closure: Friday, July 25 to Thursday, July 31, 2025 Remote E-Voting Period: Monday, July 28 (9:00 AM) to Wednesday, July 30 (5:00 PM) Shareholders holding shares as of the record date will be allowed to vote on AGM resolutions and will be eligible to receive the proposed dividend if approved. The stock is currently over 57 percent away from its 52-week low of ₹ 906.40, hit in March 2025. In the last 1 year, it has gained over 31 percent. In 2025 YTD, it has added over 6 percent giving positive returns in 4 of the 7 months so far. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Recorder
5 days ago
- Business
- Business Recorder
Financials lead Indian equity benchmarks higher; tariff jitters cap gains
India's benchmark indexes inched up on Tuesday, led by gains in financials, though broader market weakness and uncertainty around U.S. President Donald Trump's new tariff proposals capped overall gains. The Nifty 50 rose 0.24% to 25,522.50 points and the BSE Sensex added 0.32% to 83,712.51. Eight of the 13 major sectors logged gains. The high weightage financials and private banks rose about 0.7% each, both led by Kotak Mahindra Bank's 3.5% jump after it reported robust June quarter deposit and loan growth. Asset managers such as HDFC AMC, UTI AMC gained after country's markets regulator proposed to allow them to provide investment management to pooled funds. The broader small-caps and mid-caps fell 0.3% and 0.2%, respectively. Trump announced a 25% levy on key Asian allies, including Japan and South Korea, while extending the tariff deadline to August 1 from July 9, allowing more time for negotiations. The U.S. President reiterated the likelihood of a deal with India. Indian shares to open muted on tariff jitters; Trump says India deal close 'India getting a deal will give clarity to investors on what they can expect, which may not be the case for countries that don't have the deal in place,' said Arun Malhotra, fund manager at CapGrow Capital. MSCI's broadest index for Asia-Pacific stocks outside Japan was up 0.5% as investors assessed fresh tariff announcements. Indian textile firms Alok Industries, KPR Mill and Vardhman Textiles rose after the U.S. imposed 35% tariffs on Bangladesh, a key garment exporter, while Trump hinted at a trade deal with India. Pharma stocks fell 0.9% after Macquarie downgraded Aurobindo and Dr. Reddy's, and slashed targets for Lupin, Cipla and Zydus on U.S. pricing concerns. Among other stocks, Titan tumbled 6.1%, marking its biggest daily percentage losses in 14 months, after an underwhelming June-quarter sales.
