India's UTI Asset Management jumps nearly 9% on profit jump

UTI Asset Management

27/04/2023 05:24

** Shares of UTI Asset Management Co  UTIA.NS  surge as much
as 8.78% to 724.50 rupees, before paring gains to trade 1.2%
higher by 9:46 a.m. IST
    ** Co on Wednesday reported 58.7% Y/Y rise in Q4
consolidated net profit, while its total revenue from ops fell
0.1% Y/Y
    ** UTIA also declared a final dividend of 22 rupees per
share
    ** More than 475,000 shares change hands, 1.6x 30-day avg of
291,979 shares
    ** 10 of the 11 analysts covering the stock have a "buy" or
"strong buy" rating, while 1 has "sell" rating; median PT is 869
rupees - Refinitiv data
    ** Stock down 22.6% YTD, as of last close vs Nifty 500 index
 .NIFTY500  which is down 2.9%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))