Business Standard

AMC stocks find support from analysts despite tax blow to debt MFs

Recent correction factors in most negatives, valuations attractive, say brokerages

Mutual Fund
Premium

Abhishek Kumar Mumbai

Listen to This Article

Despite the tax blow to debt schemes, brokerages remain sanguine over the prospects of asset management companies (AMCs). The sharp correction in the shares of AMCs over the past three months factors in most of the negatives and has turned valuations attractive, say analysts.

In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC from 'reduce' to 'add' and reiterated 'add' and 'buy' ratings for the rest of the listed AMCs — Nippon, UTI and Aditya Birla Sun Life. JM Financial also has a 'buy' rating for most of the AMCs.

The brokerage says the MF industry may

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 27 2023 | 7:33 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com