India's UTI Asset Management up on Q1 profit jump

UTI Asset Management

26/07/2023 05:17

** Shares of UTI Asset Management  UTIA.NS  rise as much as
6.1% to 860 rupees, highest since Jan. 5
    ** Co's June-qtr consol net profit surges to 2.34 bln rupees
($28.56 million) vs 915.1 mln rupees year earlier
    ** Rev from ops jumps ~60% to 4.68 bln rupees
    ** UTIA trading above its 50-day, 100-day and 200-day simple
moving averages, indicating bullish sentiment
    ** More than 444,893 shares change hands by 09:38 a.m. IST
vs 1.1x the 30-day avg
    ** Analysts covering stock on average have a "buy rating;
median PT is 805 rupees - Refinitiv data
    ** Stock up 5.9% YTD up to last close



($1 = 81.9400 Indian rupees)

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