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

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

Mutual Fund

Abhishek Kumar Mumbai

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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

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

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