Shares of HDFC Asset Management Company (AMC) surged nearly 15% to reach a 52-week high on Friday after the Securities and Exchange Board of India (Sebi) decided to postpone the overhaul of TER regulations. Over 38 lakh HDFC AMC shares were traded on the NSE, valued at Rs 855.98 crore. Sebi stated that it would release another consultation paper on the issue. The mutual fund industry had opposed the proposal, citing potential negative impact on their businesses. Other AMC stocks such as UTI AMC and Aditya Birla Sun Life AMC also gained on the news.
