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

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 —