Aditya Birla Sun Life AMC Ltd. CMP-753
Aditya Birla Sun Life AMC is set up as a joint venture between Aditya Birla Capital Ltd and Sun Life AMC and is among the top ten AMC’s in India. The IPO came in October 2021 at 712 Rs, after the same markets went sideways and stock price went into a correction mode. For 3 years the stock has consolidated and created a rounding bottom in form of a cup and a handle pattern. Also the stock price has recently (in August) moved above the IPO listing high price of 723 Rs and is consolidating . On Friday Sep 20, 2024 there was a huge volume spurt with high delivery percentage.
Fundamentally the business is asset light and doing well along with the sector (one can check the recent quarterly performance which is easily available). Capital market plays are doing well due to sector tail wind and recently NSE launched a new thematic index called the Nifty Capital Markets Index, which will attract inflows to capital market plays.
Below is the weekly and daily chart for reference.
Disclosure : Invested.(not a stock recommendation, anyone contemplating investing needs to do their own due diligence).
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