Marcellus Investment Exits HDFC AMC While Most Analysts Peg Upto 43% Upside

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Marcellus Investment Exits HDFC AMC While Most Analysts Peg Upto 43% Upside
Credit: © Reuters.

By Malvika Gurung

Investing.com -- PMS Fund Manager and the Founder & Chief Investment Officer of the Marcellus Investment Managers Saurabh Mukherjea has exited the leading mutual fund company HDFC Asset Management Company (NS: HDFA ) stock from its 'Kings of Capital’ portfolio.

The portfolio comprises the top 10-15 quality financial stock, banks, NBFCs, life and general insurers, asset managers and brokers.

Companies including HDFC Bank (NS: HDBK ), Bajaj Finance (NS: BJFN ) and Kotak Mahindra Bank (NS: KTKM ) are part of the portfolio, and in May 2022, Home First Finance Company (HFFC) was added in place of AU Small Finance Bank (NS: AUFI ).

According to a recent note by Marcellus, its position sizing framework has suggested an exit from HDFC (NS: HDFC ) AMC, led by a reduction in the forecast of long-term earnings growth for the stock.

The mutual fund scrip has plunged 40% in the past year and has been under pressure for some time now. Nearly 21 analysts covering the stock have initiated a buy recommendation, with an average price target of Rs 2,538/share, indicating an upside of 42.6%, as per Trendlyne data.

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  • Yog Patel @Yog Patel
    hdfc bank shares price Target 30 june?
    Like 2
    • sharad singh @sharad singh
      2280 but next month 2360
      Like 0
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      100
  • Yog Patel @Yog Patel
    hdfc bank shares price Target 30 june?
    Like 1
    • sharad singh @sharad singh
      May be 1430.1455
      Like 0
    • sharad singh @sharad singh
      May be 1430.1455 if not day close below 1300
      Like 0
    • Sita Sharan Patel @Sita Sharan Patel
      ranging between 1281 to 1401 consolidation rage till next fed meet
      Like 0
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