Shares of Asset Management Company slipped to fresh 52-week lows on Friday, after the Government of India proposed investment in mutual fund; below 35 per cent in equities, shall be considered as short-term capital gains. Also, debt funds invested for a period of over three years will be eligible for long-term capital gains tax (LTCG) and their gains will be taxed at 20 per cent with indexation benefits.
HDFC Asset Management Company shares tumbled 4.35 per cent, Aditya Birla Sun Life Amc and UTI Asset Management Company fell over 2 per cent, while Nippon Life India Asset Management lost 1 per cent in the opening trades on Friday.
Here’s the technical outlook for assets management stocks post government prosing debt fund taxation :-
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