The market leader stock in Mutual fund transfer agency surged 1.2% to an intraday high price of ₹2,764.15 per share on Thursday trade after the Foreign Institutional Investor bought an additional stake in the company.
At 1:35 p.m., Computer Age Management Services Ltd shares were quoted at ₹2,723 per share, down 0.38 percent from the previous close price on the exchange. The company has a market capitalization of ₹13,371 crores.
As per the NSE block deal, On Wednesday’s trade, HDFC Bank sold 10 lakh equity shares or a 2.03 percent stake in the company via open market transactions, amounting to ₹ 270 crore. However, Foreign Institutional Investor, Fidelity Emerging Markets Fund bought an additional 2,82,657 equity shares at an average price of Rs 2,700 per share.
Earlier, Fidelity Emerging Markets Fund held a 2.87 percent stake, or 14.1 lakh shares as of the December quarter of 2023-24.
The company’s revenue has increased by 10 percent year on year, from ₹ 232 crore in Q2FY23 to ₹255 crore in Q2FY24. During the same period, Net profit increased by 16 percent from ₹70 crore to ₹81 crore.
Computer Age Management Services Ltd (CAMS)is a financial infrastructure and services provider that offers a mutual fund transfer agency, registrar, KYC registration agency, and other services. The company also offers online transactions, mail-back, capital accounting, and investment services.
CAMS is India’s largest mutual fund registration and transfer agency (RTA), with a market share of around 69% based on mutual fund average assets under management (AAUM). And 40% market share in the insurance repository business, with ~5.5 Mn policies held.
Furthermore, CAMS is the market leader, serving over 150 AIF / PMS / Wealth Serve clients, and ranks second in the eNPS area.
Computer Age Management Services shares have gained 16 percent in the last six months and 20 percent in a year.
As per the latest shareholding pattern, The Foreign Institutional Investor holds 47.69 percent of the company, and domestic institutional investors hold 23.07 percent stake.
Written by Omkar Chitnis
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