Street signs: ELSS outflow an unusual surprise, Antony shares slide & more

The shares of civic services provider Antony Waste Handling Cell has already lost a third of its listing gains a week after its market debut

ELSS outflow an unusual surprise

Equity-linked savings schemes (ELSS) saw outflows to the tune of Rs 804 crore in December. This has surprised market observers as it is the first time in the last seven years that the category has witnessed outflows during the month. Historically, December has seen inflows of Rs 500-1,000 crore as investors start their annual tax planning, culminating in even higher flows in the subsequent months as the financial year draws to a close. Invest­me­nts of up to Rs 1,50,000 done in such schemes are eligible for tax deduction under section 80C of the Income Tax Act.