Nippon Life Asset Management slipped 4 per cent to Rs 291, while HDFC AMC dropped 3 per cent to Rs 2,490 in the intra-day trade on the BSE.
Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.
All that happened in the markets today
According to an analysis by ICICI Direct, about a dozen stocks currently meet the inclusion criteria for trading in the derivatives segment
The equity schemes had combined asset base of over Rs 33,000 crore
UTI AMC will be the third offering in the Indian mutual fund industry
The stock of ABB has made a higher bottom formation pattern taking support near 776 levels and has picked up with momentum to improve the bias
The share sale however, has sailed through as institutional investor portion was oversubscribed
Retail investors bid for 987,191 shares as against 1.2 million on offer; share sale has sailed through as institutional investor portion was oversubscribed
Currently, Standard Life holds 26.89 per cent stake in HDFC AMC. After the OFS, its stake will decline to 21.25 per cent
Standard Life Investments, one of the promoters in HDFC AMC, is looking to offload up to 2.82 per cent stake in the company through OFS, which opened today and will close Thursday.
At floor price, the OFS can fetch over Rs 1,400 crore
Fund house held sizeable market share in individual investors' segment
The broader structure of Nifty still looks weak though
Equity funds account for 42 per cent and 52 per cent of AUMs for HDFC AMC and Nippon AMC, respectively
Impact on FMP investors from 'standstill' pact with Essel group put fund house in scrutiny
As a result, analysts at Prabhudas Lilladher Research expect the valuation gap between the two AMCs to narrow, though HDFC AMC could retain its top position.
The capital markets regulator has said that for current investigations, "observations" on the draft offer may be kept in abeyance for 30 days from filing of the draft offer
Improving mix of equity products is positive for an AMC as equity products offer higher management fees than fixed income products.
Bank Nifty would have a range of 31,370-32,650