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AMC stocks surge on buzz of new TER proposals; HDFC AMC goes up 4.5%

However, Sebi announced in June that it was re-evaluating these plans, citing industry-provided data

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Illustration: Binay Sinha

Abhishek Kumar Mumbai

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Shares of asset management companies (AMCs) rose up to five per cent on Thursday amid reports that markets regulator Securities and Exchange Board of India (Sebi) is about to release a revised consultation paper on overhaul to expenses charged by mutual funds. The new proposals from Sebi are expected to have a lower impact on AMCs' profit margins than the earlier ones.
Leading the gains on Thursday was Nippon Life India AMC, which saw a 4.8 per cent increase in its share price. Following closely behind was HDFC AMC, whose shares rise 4.5 per cent. The other two listed AMCs —

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First Published: Jul 20 2023 | 7:42 PM IST

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