Shares of HDFC Asset Management Company gained more than 2% during the trading session on 26 September after it made additional investments in a subsidiary.

The company invested Rs 25 crore in HDFC AMC International and continues to hold a 100% stake in the subsidiary.

The entity acquired belongs to financial and advisory services.

The aim of this acquisition is to enable the wholly owned subsidiary to meet the net worth requirements that are prescribed for registered fund management entities under the International Financial Services Centres Authority Regulations 2022.

Recently, RBI (Reserve Bank of India) has allowed the company to acquire up to 9.5% stake in the DCB Bank and Karur Vysya Bank.

The central bank has advised HDFC AMC that its shareholdings are not to exceed 9.5% in both banks.

The company’s stock has given a return of 61.67% in the last six months against the 15.81% return given by the benchmark Nifty50 index in the same duration.

At 1:28 pm, the shares of HDFC AMC were trading at Rs 2,672.55 or 0.054% above its previous close on NSE.