Prashant Mahesh

Over the last one month, gold price in dollar terms has moved up by 6.3%, while in rupee terms it is up 7.1%. The Nifty has shed 0.7%. In this calendar year, gold gained 28.8% in dollar terms, while in rupee terms it gained 21.2%, compared to the Nifty's gains of 15.3%.

Synopsis Aditya Birla Sun Life Asset Management Company surged 11.5% to end at ₹779, UTI AMC rose 7.6% to ₹1,326, HDFC AMC gained 5.8% to ₹4,833 and Nippon Life India AMC advanced 2% to ₹721. Mumbai: Asset management companies surged up to 12% in Wednesday's trading as strong second-quarter results by the largest listed fund house HDFC Asset Management fuelled sentiment. Aditya Birla Sun Life Asset Management Company surged 11.5% to end at ₹779, UTI AMC rose 7.6% to ₹1,326, HDFC AMC gained 5.8% to ₹4,833 and Nippon Life India AMC advanced 2% to ₹721. UTI AMC CLOSED 03:59 PM | 16 Oct 2024 03:52 PM | 16 Oct 2024 HDFC AMC, which declared its second quarter on Wednesday, saw its revenue grow 38% and profit expand by 32% from the same period a year ago. Its market share in the profitable active equity space grew to 12.9% from 12.4% a year back. "Strong performance including market share gains for HDFC had a strong rub-off effect on almost all AMC companies," said Piyush Mehta, smallcase manager at Caprize Investments. Analysts said expectations that margins of the industry will expand have improved investor appetite for these stocks. "The rally in AMC stocks is in anticipation that there will be yield expansion after HDFC AMC reported higher revenue yields of 46.8% higher by 0.6% compared to the previous quarter," says Mahesh Ojha, AVP-Research at Hensex Securities. Brokerage Nomura initiated coverage on the Indian asset management companies last week, projecting an 18% growth in assets under management for the industry over FY24-30, led by growth in equity and passive products. The firm "Indian AMCs trade at richer valuations compared with most global peers, and we expect their valuation premium to sustain led by higher growth potential, better profitability and lower risks of passive funds taking over active funds as penetrations level remain very low," said Nomura. Over the last year, shares of HDFC AMC gained 68.9%, Aditya Birla SL AMC 73.22%, and UTI AMC 64.77% while Nippon AMC moved up 85.73%, compared to the Nifty 50 that went up by 26.55%.

After the sharp run-up this year, with domestic prices touching the ₹1 lakh per kg mark, analysts believe investors could buy on dips over the next 1-3 months and allocate 3-5% of their portfolio to the white metal.

Synopsis After the sharp run-up this year, with domestic prices touching the ₹1 lakh per kg mark, analysts believe investors could buy on dips over the next 1-3 months and allocate 3-5% of their portfolio to the white metal.

The combined turnover of gold and silver ETFs stood at ₹428 crore on October 29 as against ₹89 crore on the eve of Dhanteras last year. While gold ETF volumes surged from ₹65 crore to ₹236 crore, silver volumes jumped from ₹23.6 crore to ₹191.6 crore. ETFs are bought and sold like listed stocks.

Gold prices have risen 30.69% in rupee terms over the past 12 months, while it has gained 39.10% in dollar terms. During the same period, the Nifty 50 has gained 25.6%. In this calendar year, gold has so far gained 26% in rupee terms, while the Nifty gained 11.8%.

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Given the sharp run up in the US markets over the past one year, financial planners believe investors could stagger their bets over the next one year, with a 5-10% allocation to the US markets. "At the broad index level, valuations of Indian and US equities are similar. Several US companies are expected to show strong growth," said Vishal Dhawan, Founder, Plan Ahead Wealth Advisors.