UTI AMC's shares soar 15% on reports of Tata AMC eyeing 45% stake

Shares of UTI Asset Management Company (AMC) on Tuesday climbed 15 per cent, following reports that Tata Group is eyeing 45 per cent stake in the investment manager.
 
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.
 
If the deal goes through, the combined assets under management (AUM) of UTI AMC and Tata AMC will make them the sixth-largest fund house in the country.
 
Currently, UTI AMC is ranked eighth, while Tata AMC is in 13th