Shares of asset management companies (AMCs) declined, amid reports that the government has proposed to tax gains arising from debt MFs at the investor's slab rate, irrespective of the investment period, in a move to remove the tax advantage enjoyed by debt mutual funds over bank fixed deposits.
HDFC Asset Management Company is currently trading at Rs. 1674.90, down by 69.15 points or 3.96% from its previous closing of Rs. 1744.05 on the BSE.
UTI Asset Management Company is currently trading at Rs. 655.30, down by 35.50 points or 5.14% from its previous closing of Rs. 690.80 on the BSE.
Aditya Birla Sun Life AMC is currently trading at Rs. 339.50, down by 16.25 points or 4.57% from its previous closing of Rs. 355.75 on the BSE.
