Aditya Birla Sun Life AMC Shares Dive Amidst Investor Disappointment

Aditya Birla Sun Life AMC saw its shares drop nearly 9% following an investor-uninspiring quarter. Despite a 7% rise in PAT and significant revenue growth, the market reacted negatively. The larger market remained positive with gains in BSE Sensex and NSE Nifty.

Shares of Aditya Birla Sun Life AMC saw a substantial downturn, dropping by nearly 9% during mid-session trading on Tuesday, as the company's latest quarterly earnings report failed to meet investor expectations.

The stock declined 8.77% to Rs 587 per share on the NSE and plummeted 8.4% to Rs 588.90 on the BSE. This decline came despite a 7% growth in Profit After Tax (PAT) to Rs 224.5 crore for the December quarter, along with a 30% revenue increase compared to the previous year.

While the company's financial growth seemed positive, market appetite remained unsatisfied. In contrast, the overall market displayed an upward trajectory, with the BSE Sensex climbing 776.44 points to 76,142.61, and the NSE Nifty advancing by 208.95 points to 23,038.10.

(With inputs from agencies.)