India's UTI Asset Management Co hits over 8-mth low on block deal

UTI Asset Management

20/03/2023 06:25

** Shares of UTI Asset Management Co Ltd  UTIA.NS  fall as
much as 2.7% to 631.05 rupees, their lowest since July 18, 2022
    ** About 1.1 million shares change hands in a block deal as
of 10:38 a.m. IST, at a price of 636 rupees per share -
Refinitiv data
    ** Trading volume at ~1.24 mln shares as of 11:29 a.m. IST,
nearly 7x 30-day avg of 180,359 shares
    ** Stock most active in three months since Dec. 21, 2022
    ** Shares trading below their 50-, 100-, and 200-day moving
simple averages since Feb. 2
    ** UTIA shares post their biggest intraday pct loss since
March 3
    ** Nine of 10 analysts covering the stock have a "buy" or
higher rating while one suggests "hold"; median PT is 880 rupees
- Refinitiv data
    ** Stock down 24.7% so far this year, up to last close

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((Dimpal.Gulwani@thomsonreuters.com;))