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AMC stocks at new highs, gain upto 74% from 2025 lows; time to book profit?

AMC stocks at new highs, gain upto 74% from 2025 lows; time to book profit?

Shares of HDFC AMC, NAM-India, UTI AMC and Aditya Birla AMC were quoting at record highs levels; following a sharp rebound from the calendar year lows. Here's a likely guide on the near-term trend.
Rex Cano Mumbai
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Shares of asset management companies (AMC) have witnessed a phenomenal run on the bourses from the calendar year (2025) lows, and are now seen trading at new life-time highs. Nippon Life India AMC (NAM-India), in particular, has zoomed over 74 per cent from a low of ₹492 in the month of April, to a record high of ₹861. Shares of HDFC AMC, Aditya Birla Sun Life AMC and UTI AMC have surged in the range of 53 - 59 per cent from their respective calendar year lows. In comparison, the BSE Sensex and the NSE Nifty have gained around
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Benchmark Indices close flat in a volatile session
Benchmark Indices close flat in a volatile session

Hans India

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Benchmark Indices close flat in a volatile session

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UPI, FTA, Rs 30-Billion Swap Line: India's Big Plans For PM Modi's Maldives Trip As Ties Reset
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time42 minutes ago

  • News18

UPI, FTA, Rs 30-Billion Swap Line: India's Big Plans For PM Modi's Maldives Trip As Ties Reset

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DRI unearths fraud involving undervaluation in imports of luxury furniture; 3 held
DRI unearths fraud involving undervaluation in imports of luxury furniture; 3 held

The Print

timean hour ago

  • The Print

DRI unearths fraud involving undervaluation in imports of luxury furniture; 3 held

The investigation has exposed a network involved in massive undervaluation and misdeclaration of branded luxury furniture operating across multiple jurisdictions, he said. Acting on specific intelligence, DRI officials conducted extensive searches across multiple locations, including business premises, warehouses, offices of freight forwarders, customs brokers and other associated entities, an official said. Mumbai, Jul 22 (PTI) The Directorate of Revenue Intelligence (DRI) has busted a fraud involving large-scale undervaluation and misdeclaration in the import of premium luxury furniture, and arrested three persons in Mumbai, officials said on Tuesday. It involved the use of dummy importers (importer exporter code holders), local intermediaries, overseas shell entities, and fabricated invoices and related documentation to systematically undervalue branded luxury furniture, he said. The investigation revealed that the beneficial owner, a well-known pan-India luxury furniture brand, was sourcing luxury furniture from reputed Italian and other European brands. However, invoicing was being done in the names of shell companies based in jurisdictions such as Dubai, while the goods were shipped directly from Europe to India, he said. In parallel, fabricated invoices were through a Singapore-based intermediary for falsely declaring the goods as unbranded furniture at significantly undervalued rates to Customs for clearance in the name of dummy importers, he said. Once cleared through Customs, the goods were transferred on paper to the intended beneficial owner via a local intermediary created for this purpose, while in reality the goods were directly sent to the beneficial owner or the customer at the direction of the beneficial owner of the whole scam, he said. As per the preliminary findings, a gross undervaluation of 70 per cent to 90 per cent of the actual transaction value, resulting in estimated customs duty evasion of approximately Rs 30 crore, he said. The beneficial owner, the importer, and the intermediary have been found in complicity and close conspiracy with each other for executing the whole modus operandi to evade a huge amount of customs duty, he said. DRI officials arrested three individuals on July 21 and 22 under provisions of the Customs Act, he said. PTI DC NP This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

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