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Multibagger stock: HDFC group's stellar surge
HDFC AMC's stock just hit a record high, jumping 26% this year and climbing steadily for five months.
If you bought in at its 2018 IPO price of ₹1,100, your investment would now be worth five times as much—a pretty impressive run for anyone who's been holding on.
Stellar performance on bourses
The company's shares bounced back big time, up 47% last year and another 31% so far in 2024.
It's trading at ₹5,318 right now and is close to overbought territory (RSI of 67), but confidence is strong—21 out of 28 analysts say "buy."
Plus, Nomura just raised its price target to ₹5,500 after seeing steady growth in assets managed by HDFC AMC.