UTI AMC

Selective AMC stocks like Nippon Life India Asset Management and Aditya Birla Sun Life Amc could slip up to 15 per cent, show technical charts

PPFAS Mutual Fund purchased 1.12 million equity shares representing 0.88 per cent stake in UTI AMC for Rs 71.40 crore.

"Credit funds have performed quite well in 2022, on the back of an improving economic cycle, low-interest rates, and easing liquidity as domestic and global economies opened up"

There were similar reports in August 2022 and UTI AMC had then denied having any knowledge about it

Known for his successful efforts in restructuring the erstwhile Unit Trust of India into UTI AMC and Specified Undertaking of UTI (SUUTI), Meleveetil Damodaran chaired Sebi from Feb 2005 to Feb 2008

If the deal goes through, Tata AMC and UTI AMC's combined entity could become the fourth-largest asset manager in India

According to media reports, Tata Group is in talks to buy majority stake in the company from PSU finance entities.

The overall trend for asset management shares continues to remain bullish, say charts.

The stake is valued at around Rs 1,437 crore at UTI AMC's last closing price of Rs 743.5

PNB received the government's approval to divest its entire stake in UTI Asset Management Company (AMC) as part of its non-core asset sale plan and shore up its capital base.

The bank holds 15.22 per cent stake in UTI AMC worth around Rs 1300 crore at current valuation

The brokerage has set a March 2024 target of Rs 2,470 for HDFC AMC and Rs 400 for Nippon India AMC

Investors should be guided by valuations in determining risk and allocation rather than events that cannot be predicted, said Vetri Subramaniam

According to reports, Tata AMC plans to acquire the shares held by four public sector undertakings (PSUs) in the fund house

According to reports, Tata AMC plans to acquire the shares held by four public sector undertakings (PSUs) in the fund house that manages assets worth Rs 2.24 trillion

According to technical analyst from HDFC Securities, Chalet Hotels is trying to find support at 50 days EMA, whereas, UTI AMC has formed a bullish 'hammer' candlestick pattern on the chart.

UTI AMC saw its profit after tax drop 60 per cent year-on-year (YoY), while Aditya Birla Sun Life AMC saw its profits increase just 1 per cent

In Q3, the company's revenue from operation declined 10 per cent YoY at Rs 309 crore, while profit after tax was down 9 per cent YoY at Rs 127 crore.

We are long-term bullish about the prospects for Indian equities driven by the potential for growth across sectors, said UTI AMC CIO

In terms of valuation matrix like P/E or P/BV, many stocks forming part of the broad index would be expensive compared to long-term averages, Sachin Trivedi of UTI AMC said