India's UTI Asset Management gains on Q2 profit rise

UTI Asset Management

28/10/2024 04:56

** Shares of UTI Asset Management  UTIA.NS  rise 4.5% to
1,199 rupees
    ** Investment management co posted a 31% rise in Q1 consol
net profit to 2.39 bln rupees ($28 mln), total rev from ops up
33% Y/Y
    ** Overall net flows remain positive, hybrid funds recorded
decent inflows, said analysts at Centrum Broking
    ** Fourteen analysts covering the stock on avg have a "hold"
rating; median PT is 1,232 rupees - LSEG data
    ** Stock up 42% so far this year



($1 = 84.0725 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))